Nusaned Investment, a wholly-owned subsidiary of Sabic that operates as an autonomous investment company, inaugurated its new office building and launched a new brand identity at a ceremony at Riyadh Front on January 12.

Inaugurating the new office and identity, Nusaned Investment Chairman and Sabic Vice Chairman & CEO Yousef Al-Benyan highlighted the company’s 2020 achievements and gave an overview of the roadmap for 2021.

“Nusaned Investment was launched in 2018 to provide financial support to SMEs and increase local content through direct equity and mezzanine financing. Since its launch, it has secured approval and commitment for four deals with a total value of around SR42 million ($11 million) with local and foreign partners across diverse sectors including plastics, energy, construction products, industrial services and personal protective equipment,” Al-Benyan said.

“Our new office launch will help us project and differentiate Nusaned Investment’s mandate of augmenting financial support to SMEs and accelerating progress toward the Kingdom's local content targets under Vision 2030,” he added.

Nusaned Investment, which has built a healthy pipeline and portfolio, is actively building its network and positioning in the market through the establishment of new strategic relationships and collaboration with local government agencies and regulatory bodies. The company supports and enables the implementation of the Kingdom’s National Industrial Strategy (NIS). – TradeArabia News Service