Jeddah, Kingdom of Saudi Arabia - June 15, 2009
 |
 |
|
|
 |
The Dow Chemical Company, a world leader in science and technology, today announced the Company’s intent to enter into a strategic relationship with King Abdullah University of Science and Technology (KAUST) in the Kingdom of Saudi Arabia (KSA).
During a site tour of KAUST’s facilities, Dow announced its intentions to establish a multi-year, multi-million dollar joint research framework with KAUST. The framework will initially aim at using catalysis as a means to develop new routes for producing chemical derivatives. Dow also 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 the Kingdom of Saudi Arabia. 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. Ernesto Occhiello, Research & Development Director for Dow in Europe, Middle East and Africa has been named as the liaison with KAUST and will be a single point of contact between Dow and KAUST. The parties agreed to work towards defining project milestones by KAUST’s scheduled opening.
Scheduled to open in September 2009, KAUST is a graduate-level research university and the realization of the vision of King Abdullah bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques, to promote the advancement of science and technology in Saudi Arabia. KICP enriches the research experience while promoting economic development in Saudi Arabia. Designed to maximize the effectiveness of industrial collaboration within the Kingdom and internationally by engaging key partners, KICP’s goal is to translate knowledge into economic growth and job creation.
Andrew Liveris, chairman and chief executive officer, The Dow Chemical Company, said: “Dow is excited about the potential of expanding its R&D presence in the Middle East through this exciting new partnership with KAUST. 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. While this is just the beginning our relationship, we are very excited to be strategic partner as KAUST looks to become a world class educational institution determined to make a significant impact in the economic development of the Kingdom of Saudi Arabia.”
Professor Chong Fong Shih, KAUST President 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. While innovation occurs throughout the Dow organization, at its root is scientific research leading to new products and solutions, from which this initiative will derive much success.”
About Dow
About Dow in the Middle East
Dow has several current and proposed Middle East joint ventures in the UAE, Egypt, Kuwait and Libya as well as in Saudi Arabia, where Saudi Aramco and Dow are in the formation process of a joint venture to build, own and operate a world-scale chemicals and plastics production complex in the Eastern Province. From the opening of its first commercial office in Cairo in the early 1970’s to its facility in Jebel Ali in Dubai and its 10-year partnership in Kuwait with EQUATE, Dow has managed to establish a solid presence in the Middle East petrochemicals industry. For more information about Dow Chemical in the Middle East, please visit www.dow.com/imea/me
About Dow in the Kingdom of Saudi Arabia
Dow’s presence in the Kingdom of Saudi Arabia began with E.A. Juffali & Bros. through a joint venture named the Arabian Chemical Company (Polystyrene) Ltd., which currently has two plants manufacturing STYROFOAM * brand insulation – one in Jeddah and the other in Dubai. In 1995, Dow and E.A. Juffali & formed the Arabian Chemical Company (Latex) Ltd., which manufactures latex at its plant in the Eastern Province of Saudi Arabia. In 2007, Dow and Saudi Aramco signed a Memorandum of Understanding regarding the construction, ownership and operation of a world-scale chemicals and plastics production complex in Saudi Arabia, named the Ras Tanura Integrated Project (RTIP). Upon completion, RTIP is projected to be among the world’s largest petrochemical facilities and would represent the largest foreign direct investment ever into Saudi Arabia’s petrochemical sector.
About KAUST
King Abdullah University of Science and Technology (KAUST) is being built in Saudi Arabia as an international, graduate-level research university dedicated to inspiring a new age of scientific achievement in the Kingdom, across the region and around the globe. As an independent, merit-based institution, KAUST will enable top researchers from around the globe and across all cultures to work together to solve challenging scientific and technological problems. The KAUST global research and education network will support diverse talents both on its campus and at other top universities and research institutions through collaborative research agreements, grants, and student scholarship programs. The core campus, located on more than 36 million square meters on the Red Sea at Thuwal, is set to open in September 2009. For more information about KAUST, visit http://www.kaust.edu.sa
For Editorial Information:
Hani Wassim
Dow Chemical India, Middle East & Africa (IMEA)
+971.4.312.3668
Simon Tayyar
GolinHarris
+966.2.650.2741
stayyar@golinharris.com
Gaya Subramaniam
GolinHarris
+971.4.332.3308
gsubramaniam@golinharris.com
