Saudi Advanced Industries Company

Overview

Established in 1987, Saudi Advanced Industries Company (SAIC) is a Saudi joint-stock company specializing in industrial investments and operations. The company was formed to support private sector participation in the Kingdom's industrial development and to contribute to the Economic Offset Program by transferring advanced technologies to Saudi Arabia. Over the years, SAIC has increased its capital from 108 million Saudi riyals at inception to 600 million Saudi riyals in 2023, reflecting its growth and commitment to the industrial sector. SAIC's investment strategy focuses on sectors with competitive advantages, including oil, gas, petrochemicals, manufacturing, building materials, and related services. The company actively evaluates opportunities through its Investment Management division, aiming to diversify assets, enhance returns, and increase cash flows. This approach aligns with Saudi Arabia's Vision 2030, which seeks to diversify the economy and reduce dependence on oil exports. In addition to its core activities, SAIC established the United Growth Permanent Investment Company in 2023 as its investment arm. With a capital of 5 million Saudi riyals and 100% ownership, this subsidiary invests in vital sectors such as health, education, and food. The subsidiary aims to develop investment opportunities, provide financing solutions, and enhance competitiveness, growth, and prosperity in line with the National Investment Strategy launched by Crown Prince Mohammed bin Salman. This strategy represents a key enabler for achieving the goals of Saudi Vision 2030, capitalizing on the Kingdom's strategic location and leading investment power.