Ministry of Energy, SABIC Pen MoU

The Ministry of Energy and the Saudi Basic Industries Corporation (SABIC),  recently, co-signed a memorandum of understanding, in the field of developing renewable energy projects.

Through such a MoU, the ministry supports the development of renewable energy projects, at the company, ensures the readiness of the transmission networks and conducts necessary preliminary studies, tendering and awarding of these projects.

On the occasion, Prince-minister of energy Abdulaziz bin Salman expressed thanks and gratitude to the Custodian of the Two Holy Mosques; King Salman bin Abdulaziz Al Saud  and HRH Crown Prince for the support and back up, the energy system received from them.

That had the greatest impact in unifying efforts between institutions of the state, in the field of energy, and enhancing its contribution to achieving the goals of the Kingdom’s Vision 2030, the Prince-minister remarked.

The ministry’s role focuses on supporting and encouraging the trend towards the exploitation of renewable energy, in the Kingdom, to achieve the objectives of the Kingdom’s Vision 2030, including promoting sustainability, preserving the environment and natural resources, empowering the private sector, enhancing local content, localizing industries related to this sector, and providing more job opportunities, in the field of renewable energy, in the Kingdom.

For its part, SABIC recognizes its responsibility to support and accelerate the response to climate change, Vice Chairman and CEO of SABIC Yousef Al-Bunyan, commented, indicating that SABIC, as a leading global company, in the field of the petrochemicals.