JEDDAH: The Dow Chemical Company, a world leader in science and technology, yesterday announced its intention to enter into a multimillion-dollar strategic relationship with King Abdullah University of Science and Technology (KAUST).
The framework will initially aim to use catalyses as a means to develop new routes for producing chemical derivatives.
Dow also announced its intention to explore developmental efforts at the KAUST Research Park and Innovations Cluster. Areas being considered for the park include CO2 capture, enhanced oil recovery, water desalination, solar energy and wind energy.
In addition, Dow has affirmed its commitment to becoming a founding member of KAUST’s Industrial Collaboration Program (KICP), which aims to enrich the local research experience while promoting economic development in Saudi Arabia.
Andrew Liveris, chairman and chief executive officer of The Dow Chemical Company, said that the university’s goal of fostering economic development through the advancement of technology is completely aligned with Dow’s focus on delivering science-based solutions for everyday needs.
Professor Chong Fong Shih, president of KAUST, said, “It is the vision of King Abdullah to have KAUST act as a driver in transforming Saudi Arabia into a knowledge economy by directly integrating research produced at the University into our economy.
“We are pleased to have Dow, a 112-year-old world leader in the field of science and technology, as a partner in realizing this great vision.”
Scheduled to open on Sept. 5, 2009, KAUST is a graduate-level research university and the realization of the vision of Custodian of the Two Holy Mosques King Abdullah to promote the advancement of science and technology in Saudi Arabia.
