Saudi Advanced Industries Company (SAIC), established in 1987, as a Saudi Public Joint Stock Company with an authorized capital SR 108 million (in 2007 SAIC increased its Authorized capital from SR 108 million to SR 432 million). SAIC came into existence primarily in response to a call for the private sector to invest in the economic offset program. Thus, one of SAIC’s primary goals has been to be a vehicle for the private sector to participate in projects promoted under that program.

However, SAICís role is not limited to investment in economic offset projects; instead, SAIC has diversified to include, but not limited to, the transfer of advanced technology through participation in technically-oriented industrial projects with technology holders and/or with other Saudi industrial companies, as well as to become involved in the promotion and development of industrial projects.

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