‘Kingdom heading to become international hub for petrochemicals’

‘Kingdom heading to become international hub for petrochemicals’
Updated 23 October 2013

‘Kingdom heading to become international hub for petrochemicals’

‘Kingdom heading to become international hub for petrochemicals’

Tasnee Chairman Mubarak bin Abdullah Al-Khafrah has said that the petrochemicals companies in Saudi Arabia have their milestone position in world markets. This is because the Kingdom has many privileges that increasingly qualify it to be a global hub for petrochemicals and downstream products, he said, adding that petrochemicals industry is one of the largest nonoil industries in Saudi Arabia.
Saudi Arabia is classified as 11th country around the world in petrochemicals supply. Availability of feedstock, closure to exporting markets in Europe and Asia as well as abundance of energy resources as main factors, contribute to remarkable growth in petrochemicals and downstream industries.
Al-Khafrah, who was speaking on the occasion of the K-SHOW held in Dusseldorf, Germany, said that the huge investments launched by Saudi Arabia to maintain infrastructure have enhanced the Kingdom to be one of the largest producing countries in the Middle East of polyethylene (PE) and polypropylene (PP), which are deemed as key elements used in production of plastic materials.
Al-Khafrah added: “Some global markets are significantly growing and have increased their demand for plastic products causing a higher demand for plastic products, therefore, there is a major progress in all aspects of plastics manufacturing of machineries, equipment, feedstock and semi-finished products, spare parts and relevant services to plastics and petrochemicals manufacturing.”
He said that Tasnee’s first time participation at the K-SHOW was meant to present Tasnee products to about 3,000 exhibiting companies during the period from Oct. 16 to 23, in the presence of a large number of businessmen. Tasnee was one of the largest among 3,000 exhibitors at the K-SHOW, he said.