Saudi Basic Industries Corporation (SABIC) and King Saud University signed an SR 475 Million agreement on Saturday to prepare engineering design and supervision services for the new SABIC Center to develop Plastic Applications at the University"s Techno-Valley. The first phase of Techno-Valley project would cost SR 2.25 Billion, said KSU President Abdullah Al-Othman. An SR 190 Million agreement would be signed in two weeks to establish a pharmaceutical research center, he added.