SAUDI ARABIA: Investments in plastics sector exceed USD 50 billion

Saudi Arabia has emerged as one of the most attractive investment destinations for petrochemicals and plastics in the Middle East, even during the global economic slowdown. Recent studies reveal that total investments in the plastics sector have reached USD 50 billion, affirming the strength of the market.

Furthermore, the petrochemical industry is determined to achieve a production capacity of over 100 million tons per annum by 2015 to maintain Saudi Arabia’s position as one of the largest producers of petrochemical products.

Over the past decade, the trade event has established itself as the largest marketplace for plastic and petrochemical products, machinery and services in the Middle East.

The upcoming show will be an ideal gateway to know more about the latest technologies in machinery, equipment, raw materials, semi-finished products, spare parts and services in the plastics and petrochemical sectors.

Zeyad Al-Rukban, deputy general manager at the Riyadh Exhibitions Company, said: “The industrial sectors in Saudi Arabia are witnessing a robust growth with several large-scale developments and infrastructure projects underway. To sustain this expansion, a wide range of business opportunities has emerged in the plastics and petrochemical industries. Saudi Plastics & Petrochem 2014 will serve as an ideal platform for engineering firms, manufacturers and suppliers to display their latest products, high-tech services and state-of-the-art technologies. We expect the footfall at the forthcoming edition to surpass previous records.”

Source: Daily "Arab News", Riyadh; 16 Dec 2013
(Syed Rashid Ali, Karachi, Pakistan)