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Sabic soon to set up SR375m plastic development centre

October 12/2009
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, Sabics 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.



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       MRC Reference


Sabic. The share in the Russian market in 2008:
 PE 0.2%;
 PP - 0.4%;
 PS 0.2%.

 

Annual sales growth in Russia over the last 5 years:
 PE - 33%;
 PP 62%.


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