Falih announced that Saudi Aramco plans to sign a Memorandum of Understanding (MOU) in the near future with Sumitomo Chemical for the second phase of the Petro Rabigh Complex (Petro Rabigh II). He also spoke of the huge investment the company will make through its upcoming petrochemical project in Ras Tanura — a partnership with Dow Chemical of the USA. This investment will amount to approximately SR 100 billion when completed, and will include the construction of integrated industrial cities where the private sector can invest in conversion and support industries. Al-Falih also announced two new major initiatives by Saudi Aramco in the field of vocational training, in partnership with the General Organization for Technical Educational and Vocational Training (GOTEVT). The first involves the establishment of the National Industrial Training Institute in al-Hasa, a new training institute similar to those operated by the company. The company will offer advice on the center's design as well as provide land with an area totaling 365,000 square meters for the construction of the center which will features classrooms and laboratories that can accommodate 2,000 trainees. The second initiative Al-Falih announced was for the Saudi Technical Petroleum Services Institute in Dammam, in partnership with the Ministry of Petroleum and Mineral Resources, for which the company will provide technical support. The two institutes, Al-Falih said, aim to build national expertise in the areas of exploration and production as well as various other industries and to develop teaching staff and curricula in the areas of oil exploration and production and quality control. The company plans to utilize those two important facilities, not only in training its own employees, but also in creating highly-qualified Saudi employees to serve the oil, gas and petrochemical sectors in general. This, Al-Falih said, is an example of what the private sector can accomplish through joint investment in the construction of institutes that help develop the private sector's business. Al-Falih uncovered more initiatives in the area of developing the Kingdom's human resources. He expressed his gratitude for the Chamber of Commerce and Industry in the Eastern Province for inviting him to this Forum which was held under the auspices of Prince Mohammad bin Fahd bin Abdulaziz, Governor of the Eastern Province.
