Midland-based Dow Chemical Co. has announced two agreements to advance the company’s strategic innovation agenda in Saudi Arabia have been signed.
Under the deal, Dow will construct a manufacturing facility to produce a range of polymers for coatings and water-treatment applications, and undertake a feasibility study related to a proposed investment in the company’s performance silicones franchise.
Located in the PlasChem Park in Jubail, the coatings facility will service the needs of the Saudi Arabian market with a range of acrylic-coated polymers for industrial and architectural coatings and water-treatment and detergent applications. These upgrades are in accordance with the nation’s strategic 2030 diversification and manufacturing development plan.
Andrew Liveris, Dow’s chairman and CEO, signed the agreements at an event in Riyadh, Saudi Arabia, which was attended by President Donald Trump, His Majesty, King Salman Bin Abdulaziz Al-Saud, Custodian of the Two Holy Mosques, His Royal Highness, the Deputy Crown Prince of Saudi Arabia, Mohammad bin Salman bin Abdulaziz Al-Saud, and other guests.
“Dow has been a long-term strategic partner in Saudi Arabia for nearly four decades and is the largest foreign investor in the country,” says Liveris. “Through our global and regional experience and expertise, we have unmatched capabilities to deliver high value, innovative solutions that support the Kingdom in key growth areas that help advance the Saudi’s Vision 2030 plan designed to create a vibrant society and a thriving diversified economy.”
The investment will create approximately 1,000 jobs during peak construction and more than 100 highly-skilled, full-time operations jobs in Saudi Arabia, and will complement Dow’s existing coatings capabilities in the Middle East, which include a facility at Jebel Ali in Dubai.
The proposed silicones investment will include constructing a fully integrated siloxanes and high performance silicones complex geared towards markets and industries such as home and personal care, automotive, high performance building and construction, solar energy, medical devices, and oil and gas.