Nusaned Investment™ Invests in Developing Local Radioisotopes Sector

Nusaned Investment™, a wholly-owned subsidiary of SABIC, signed an agreement to invest in Al-Khobar-based Isotopes Company to set up a facility in Dammam in the Eastern Province for processing Sealed Radioisotopes that are widely used in portable non-destructive testing applications across sectors.

Through this facility, Isotopes Company aims to become one of the first local players in the radioisotopes processing field for industrial and medical applications, which will contribute to meeting local demand, reducing cost and localizing part of the value chain.

“The investment will help realize Nusaned Investment’s objectives to promote local content by localizing part of the radioisotopes value chain. This will also support Saudi Vision 2030 and the National Industrial Development and Logistics Program (NIDLP) that focuses on transforming Saudi Arabia into an industrial powerhouse,” said Faisal Albahair, Nusaned Investment™ CEO.

“The agreement will be a great diversifier for Nusaned Investment™ portfolio by focusing on one of the unique and promising sectors and contributing to the development of the non-destructive testing applications,” he added.

“The agreement with Nusaned Investment™ will help Isotopes Company establish its local presence, open doors to access the regional market, fund its future growth and create innovative solutions,” said Wail Al-Sabbali, Isotopes Company Managing Director.

Besides the equity investment by Nusaned Investment™, SABIC, through its localization initiatives, will support Isotopes Company in its workforce training programs, which will contribute to the local workforce skills development.