Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) plans to increase investments in the kingdom and overseas markets in chemicals, manufacturing industries, and small and medium plants, CEO Ahmad Al Ohali said.

Saudi Specialized Products Co. (Wahaj), which is Sipchem’s subsidiary, started expanding in the spare parts and military industries in Saudi Arabia, Al Ohali added during an interview with Al Arabiya Channel.

Sipchem’s CEO expected that products’ prices will be stable during 2018.

In February, Al Ohali noted that the firm was aiming to acquire a 4-5% stake of the local military industry sector by 2030.