The number of petrochemicals factories in the GCC states increased to 9,802 by the end of 2003 from 4,386 in 1990, a growth of 123.5 per cent, according to official figures.
"Investment in these factories surged to $101 billion from $32.9 billion for the period under review, registering a growth of 207 per cent, said a report by the Gulf Organisation for Industrial Consultancy (GOIC).
"From $ 15.8 billion in 1990, its investment shot up to $ 60 billion, a rise of 285 per cent, while factories increased from 730 to 1,896," WAM quoted the report.
The sector, which includes oil refining, liqufaction of gas, petrochemicals, and polymers, accounted for 19.3 per cent of the total factories in the manufacturing industries and for 40 per cent of total investment industrial," GOIC noted. (menareport.com)
© 2004 Mena Report (www.menareport.com)
