Air Products (NYSE: APD) today signed an agreement with Dhahran Techno Valley Company to build and develop a world-class technology center to serve the Kingdom of Saudi Arabia and Middle East region.
“We are delighted and proud to be building this world-class Industrial Gases technology center in the Kingdom of Saudi Arabia,” said Seifi Ghasemi, chairman, president and chief executive officer of Air Products. Located in the prestigious Dhahran Techno Valley Science Park, the center will serve as the cornerstone for industrial gas technology and project development in Saudi Arabia,” he said.
Dr. Samir Serhan, Air Products’ executive vice president, said, ”This investment by Air Products represents yet another example of our company’s strong commitment to the Kingdom of Saudi Arabia, both in terms of investment in the country’s future and in the development of its people. Once complete, the center will become the hub through which Air Products will provide technology expertise in support of new opportunities for industrial gases in the region. The center will deliver the latest technology from Air Products, focused on providing improvements in process safety, energy efficiency, reliability and operational excellence to serve our regional customers.”
“Air Products has worked in Saudi Arabia since the 1970s and made long-term investments in the country since 2012 in conjunction with our joint venture partners,” added Richard Boocock, Air Products’ president, Industrial Gases—Middle East, India, Egypt and Turkey. “Today, in conjunction with our partners ACWA, Air Products is developing the world’s largest industrial gas complex to supply 75,000 metric tons per day of oxygen and nitrogen to Saudi Aramco’s power station and refinery in Jazan, Saudi Arabia. The technology center is our latest step in demonstrating our long-term commitment to The Kingdom in developing local talent, technology and industrial gas projects in Saudi Arabia.”
“Dhahran Techno Valley is a prominent destination for energy research that fosters industry-academia partnerships while remaining focused and committed to technology development and innovation. Air Products represents an excellent addition to our partner base and diversification strategy – moving from upstream to downstream,” said Dr. Khaled Al-Sultan, chairman of Dhahran Techno Valley Company and Rector of King Fahd University of Petroleum and Minerals.
Air Products’ new technology center is currently being designed and is expected to be fully operational by 2019. As the company’s new technology center and primary base for technology support in The Kingdom, the center will ultimately become a base for collaboration with regional universities, as well as for supporting all of Air Products’ technical activities in the region.
During design and construction of the new center, Air Products will base its operations from offices in Al Khobar.