Plastics sector in Saudi Arabia set to reach $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 $50 billion, affirming the strength of the market according to an article in The Saudi Gazette.
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.
Saudi Plastics & Petrochem 2014, the 11th International Plastics & Petrochemicals Trade Exhibition, is set to take place from 17 to 20 February at the Riyadh International Convention and Exhibition Center, highlighting the growing demand for the latest plastics and petrochemical products in the Kingdom. 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.”
With more than 20,000 square meters of exhibition space and exhibitors from over 27 countries across 10 national pavilions, Saudi Plastics & Petrochem 2014 is the largest industrial trade gathering for local, regional and international industrialists and professionals.
Some of the biggest plastics and petrochemical companies from Saudi Arabia and the region are expected to participate in the event, along with a number of government industrial commissions from the Gulf Cooperation Council.
- Malnourished economy: global hunger leading to $2 trillion loss in world GDP
- Going green: UAE looks to save Dh6.98b a year by 2030 with renewable energy
- Diversify and dump the slump in the GCC
- Supervising the stoners: Egyptian tobacco traders call for the legalization of cannabis
- Frozen: Arab Spring economies barely trading with one another