Sadara Chemical Company (Sadara), a $20-billion joint venture developed by Saudi Aramco and the Dow Chemicals Company, said it has been classified as "strategic" by the Saudi Arabian General Investment Authority (SAGIA), the government entity established to oversee investment affairs in the kingdom.

This puts Sadara in the highest classification category achievable under SAGIA's current investment rankings, the company said in a statement.

SAGIA recently launched the "Foreign Investment Impact Program" to measure and classify the economic and developmental impact of investments with a foreign component in the kingdom, including employment opportunities. 

Investments classified by the program are given special assistance and support by SAGIA, the statement added.

Sadara is currently building a world class chemical complex in Jubail Industrial City II in Saudi Arabia's Eastern Province.

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