Saudi Prince Saud Bin Abdullah  unveiled the $100-million (Rs62 crore) technology center in Bangalore, India  spread over 46 acres in the city’s southern suburb. Ranking among the world’s top firms in the field, SABIC — formally called Saudi Basic Industries Corp  — is a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilisers and metals. “As a strategic center of excellence, the research facility will cater to global and regional needs of our diversified customers ,” SABIC chief executive Mohamed H. Al-Mady said on the occasion. Karnataka Governor HR Bhardwaj, union Minister of State for Chemicals and Fertilisers Srikant Kumar Jena and union Minister of Minority Affairs Rahman Khan were present on the occasion. As part of SABIC’s 17 global research and development centers, the Bangalore facility will conduct innovative research in many related fields, including products and processes for its global customers, with 300 scientists and engineers. “We are proud to have our facility in Bangalore, which is a world-renowned center for technology in India,” Saud Bin Abdullah said in his inaugural address. Recalling the historical relations between the two countries,  the prince said the Saudi kingdom believed in the future of India, a rapidly developing nation, where partnership and inclusive development is a priority. “India is an important market for us in Asia, which is why our investment here is significant,” said the Prince, who is also chairman of the Royal Commission for Jubail and Yanbu. Terming the commencement of operations a milestone for SABIC, its vice-president for South Asian Janardhanan Ramanujalu said the centre would deliver innovative products and solutions, harnessing local talent and leveraging hi-tech expertise in the domain. “As an integral part of our global R&D strategy, the center will carry cutting-edge research in new platforms for next-generation materials across the industry sectors spanning construction, clean energy, electronics, medical devices and transportation,” Al-Mady said. Jena said SABIC’s investment in Bangalore strengthens the long-standing relations between the two countries. “We look forward to more such partnerships from other companies in the Saudi kingdom,” Jena said in his brief speech.