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SABIC plans Plastic Applications Development Centre at Riyadh

October 13/2009
RIYADH (plastemart.com) -- Saudi Basic Industries Corporation (Sabic) plans to set up Plastic Applications Development Centre at Riyadh Techno Valley.

To be built at an investment outlay of SR375 mln, the centre will be spread over an area of 110,000 sq mts. When it is ready by 2012, it will aid Saudi Arabia"s downstream industry produce diversified plastic products for a wide range of applications.

With per capita consumption of 40 kgs, Saudi Arabia"s plastics consumption is two times more than any other GCC country. The Kingdoms packaging sector accounts for up to 70% of the GCC packaging market, valued at US$2 billion.


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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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