(EnergyAsia, April 17 2012, Tuesday) — Saudi Basic Industries Corporation (SABIC) has announced that it will be investing US$100 million to develop new technology centre in Kangqiao, east of Shanghai, China.

When completed in 2013, the 60,000 sq m facility will house some 200 commercial and corporate function staff as well as a team of more than 200 scientists and engineers who will research and develop advanced engineering plastics materials for use in the  automotive, electronics, IT, alternative energy, building, construction and infrastructure industries

At the project’s recent groundbreaking ceremony, the Saudi chemicals giant also announced that the centre will include the ‘China Automotive Innovation Hub’ to develop next generation materials solutions.