October, 12 (zawya.com) –
Sabic
Basic Industries Corporation will set up an SR375 million Plastic
Applications Development Center at Riyadh Techno Valley, said Khalid A.
Al-Mana, Sabic’s Vice President, Polymers Division.
Al-Mana was speaking at a joint press conference to announce the
opening of Saudi Print, Packaging, Plastic and Petrochemical (Saudi
PPPP 2009) in Riyadh on Oct. 18.
Abdullah Zainal Ali Reza, minister of commerce and industry, will open
the four-day event at Riyadh International Exhibition Centre, King
Abdullah Road in Riyadh.
Al-Mana said Sabic , diamond sponsor of Saudi PPPP 2009, will display
its materials produced at the company"s various manufacturing units in
Saudi Arabia for the international participants of the exhibition.
Fadi Kaddoura, vice president, Sales and Marketing, REC, said over 500
companies representing 24 countries will participate in the Saudi PPPP,
which is purely a trade event open for business visitors.
Saudi Arabia has emerged as the most attractive investment destination
in the Middle East"s petrochemical, printing, packaging and plastic
industries, he said. The estimated amount of petrochemicals project
stood at SR172.5 billion, "which will dramatically increase Saudi
Arabia"s production capacity and further consolidate the country"s
position as a leading producer and supplier in the regional and
international petrochemicals industry."
He said the event will offer opportunities for the businessmen to tap
into the Kingdom"s business potential in areas such as printing,
packaging, plastic and petrochemicals industries and build strategic
partnerships," he said. On the other hand, recent reports have revealed
that the Saudi printing industry continues to grow by 15 percent
annually as printing expenditure in Saudi Arabia has been at an
all-time high, he added.
At 40 kilograms per capita consumption, Saudi Arabia"s plastics rates
twice as much as any other GCC country, even as the country"s packaging
sector accounts for up to 70 percent of the GCC packaging market,
valued at $2 billion.
The trade event"s confirmed exhibitors now represent a substantial 77.4
percent increase in participation, while exhibition space has been
expanded by 100 percent to reach 15,000 square meters.
