SAUDI ARABIA: German petrochemical team seeks to boost Saudi ties

A high-ranking nine-member German trade delegation from the petrochemical sector is currently in the Kingdom to boost ties with their Saudi counterparts. The delegation leaves on Wednesday (19 Feb. 2014). “The reason for the visit is the fact that there’s a great potential in the Saudi petrochemical sector for German companies, especially for engineering and plant construction,” said Andreas Hergenroether, delegate of German Industry for Saudi Arabia, Bahrain and Yemen.

The German Saudi Arabian Liaison Office for Economic Affairs (GESALO) organized the visit.

In Riyadh, the delegation met with Abdullah Saleh Al-Hagbani, chairman of the International Cooperation Committee (ICC), secretary general of the Petrochemical Manufacturers Committee (PMC) and vice chairman of the Saudi Exports Development Center (SEDC) at the Council of Saudi Chambers.

Part of the program was also a visit to the exhibition Saudi Print, Plastics, Petrochem & Packaging (PPPP), the most prominent event of its kind in the region, combining all aspects of the sector locally, regionally and internationally and the ideal business-to-business networking platform for key decision-makers, industrialists, developers and other professionals.

In Jubail, the delegation held a roundtable discussion with representatives of the Royal Commission of Yanbu & Jubail.

After meeting the officials of SABIC and Talke SA, the delegation met with local representatives of German firms in the Eastern Province.

Hergenroether said that the petrochemical industry in the Kingdom has the highest growth in the Middle East due to its adoption of global competition strategy and resting on huge oil reserves of 264 billion barrels and 279.2 trillion cubic meters of natural gas.

The production of ethylene and polyethylene is forecast to reach 80 million tons in 2015 compared to the current level of 60 million tons.

The Kingdom plans to invest nearly SR236 billion in new projects to stimulate the petrochemical industry, a step seen to keep the Kingdom’s petrochemical players globally.

The members of the delegation include Rafel Pascual de la Cruz, Dennis Fisher, Faisal Salem, Andreas Pawlik, Heinz Peters, Mark Schmidt, Helge Langmaak von Cramm, Anwer Atif von Cramm, and Michael Bruer Pfeifer.

Source: Daily "Arab News", Riyadh; 19 Feb 2014
(Syed Rashid Ali, Karachi Pakistan)