GoingToMeet

An outstanding three-quarters of all Gulf Cooperation Council (GCC) petrochemicals production is accounted for by Saudi Arabia alone. The GCC in turn supplies 7% of global demand for basic, intermediary and final petrochemical products. The growth of Saudi Arabia’s chemical sector is second only to that of the country’s oil sector. Double-digit expansion of the kingdom’s chemicals industry is being propelled by infrastructure investments worth almost $50 billion in the two industrial cities of Jubail and Yanbu, as well as by the widespread availability of raw materials and inexpensive energy – thanks to Saudi Arabia’s position as the world’s number one oil producer. Further multi-billion-dollar expansion projects are in the pipeline. Investment potential for suppliers of machinery, specialized products and services is overwhelming.