The Saudi Arabian General Investment Authority (Sagia) has awarded Sadara, the joint venture between Saudi Aramco and Dow Chemical, the “Strategic”classification. With the award, the jv now enjoys the highest classification achievable under Sagia’s investment rankings.

The Saudi government’s investment authority said the classification is in recognition of Sadara’s commitment to enhancing the value of its investments in the petrochemical and chemical sectors of the country.

Sagia also praised the company for its success in attracting associated investments to the kingdom, which it said will provide significant employment opportunities for Saudi nationals and drive further development of the industry or associated industries.

Sadara is currently completing a mammoth €15 billion petrochemicals and plastics complex at Jubail Industrial City II in the eastern part of Saudi Arabia.