SGG signs an agreement to export 100,000 tons annually of petrochemical products to India
Under the patronage of the Minister of Industry, Mr. Bandar bin Ibrahim Al-Khorayef, and in the presence of the Director of Ministry of Industry and Mineral Resources branch in Eastern Province, Mr. Abdul Aziz Al-Shuaibi
Saeed Ghodran Group signed today (Tuesday) an agreement with the Indian company Balaji Impex to export agricultural and industrial sulfur products to the Republic of India and East Asian countries with more than 100 thousand tons annually, at the headquarters of the Asharqia Chamber in Dammam, in the presence of the Vice President of the Asharqia Chamber, Nasser Al-Ansari, the General Secretary, Abdul Rahman Al-Wabel, the General Director of King Abdulaziz Port in Dammam, Mr. Fahd bin Ahmed Al-Amer, and the Director of the 2nd Industrial Estate in Dammam, Mr. Muhammad Al-Habshan. And the Director of Al-Jazira Bank Eastern Region, Mr. Turki Al-Sarihi.
Ghodran Saeed Ghodran, Chairman of SGG, represented by NEIAS, said that the company has developed a strategy to reach one million tons during the coming years, expecting to enter more than 70 countries during the next 3-5 years, explaining that NEIAS was able to export its high-quality products from (Agricultural Sulfur) and (Industrial Sulfur) to more than 54 countries around the world, as it is considered one of the first companies to export agricultural and industrial sulfur products around the world, indicating that the company seeks sustainable growth, increasing our exports, and expanding in our local and global markets.
Mr. Ghodran added that the volume of Saudi investments with India amounts to 24 billion dollars, while the volume of trade exchange in petrochemicals is estimated at about 9.13 billion dollars, pointing out that the trade exchange between the two countries with regard to agricultural petrochemicals and fertilizers amounts to 1.03 billion dollars, expecting an increase in the volume of investments and trade exchange between The Kingdom and India to reach $100 billion over the next five years. It is likely that Indian companies will enter the Saudi market, as the Kingdom’s Vision 2030 has set a strategy among its goals to stimulate foreign investment and support the Kingdom’s economic growth rates.
Mr. Ghodran praised the efforts made by the Ministry of Industry and Mineral Resources and its initiatives in supporting pioneering investors, and its tangible role in all sectors of industry through its supervision of many bodies, councils and centers, including the councils of the Royal Commission for Jubail and Yanbu, the Saudi Authority for Industrial Cities and Technology Zones “Modon”, the Saudi Industrial Development Fund, Saudi Geological Survey, Saudi Export Development Authority, National Center for Industrial Development, National Industrial Development and Logistics Services Program.
