10:17 AM
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Gulf companies revealed its intention to enter the Saudi petrochemical pump more than a billion dollars for investment in these projects, while still Saudi Arabia's petrochemicals companies face multiple challenges is the low percentage of natural gas.
The Company announced spouse Kuwaiti Petrochemical Industries welcomed the Royal Commission for Jubail and Yanbu Project Complex "PTA / PET", and the company is currently completing procedures and the demands of the body, as it is under way to communicate with consulting firms specialized world to prepare a feasibility study and detailed selection of technical partner to ensure the needs of the project, The expected value for the project up to one billion dollars.
The company unveiled Kuwait China as having now with a Chinese company and Saudi partners to establish a factory in the eastern region at a cost of $ 40 million depends on its raw materials on the production company SABIC Petrochemicals, issued as part of its production to China, indicating that the project will begin immediately after the agreement with SABIC the contract for the purchase of raw materials.
As revealed by the Gulf companies intention to invest in Saudi market is still petrochemical companies Arabia suffer from lack of allocation of new quantities of ethane since 2006, and with inadequate supplies of gas for the expansion of production, will use petrochemical plants to use larger quantities of the types of feedstock other high relatively expensive, which will lead to higher costs, as will large investments in the field of gas announced by the Saudi Aramco recently to fill the demand gap through a few years.
The possibility of raising the price of feedstock obsession for petrochemical companies, Saudi Arabia, where the availability of basic raw materials "feedstock" such as ethane and naphtha at the lowest cost to the high margins for petrochemical producers Saudi Arabia, and helped them to acquire a stake in the global market, and development and innovation in order to go about innovative products is a challenge in front of the Saudi petrochemical sector, where companies need Saudi Arabia to invest in innovative products and derivatives, which will raise the added value and increase the productive base, which reduces the risk of fluctuating prices of specific products.
In these circumstances disclosed "SABIC" for further growth and investment and the opening of new projects in the next year, including the factory iron new, which will cover a large part of the local market needs, as well as to expand the product line of specialty chemicals for the production of high-performance, plastics engineering, which will be used, including in the automotive sector the future, where SABIC will take the initiative and for providing support to strengthen the demand for them.
The engineer Mohamed Al-Mady, CEO of Saudi Basic Industries "SABIC" announced that the expansion of "SABIC" will continue in the global markets, revealing the growth of the company's investment of Foreign Affairs and created a network marketing luxury serve the company's products, indicating that the company's presence in many emerging markets as a manufacturer and producer of a local Siguenn dumping lawsuits brought against the company from time to time.
He stressed that "SABIC" will not stand idly by as he put it and will move in several directions to meet any shortfall in natural gas, pointing out that SABIC could not stand in front of the obstacle as it seeks to work on the conversion of the basic materials of value-added or shift global markets other, confirming that significant investment in gas exploration is the best solution to achieve balance.
And recorded SABIC's largest petrochemical producer in the world in terms of market value growth of the net profit of 54% in the third quarter of this year to exceed the expectations of analysts to reach 8.19 billion riyals compared to 5.33 billion riyals for the same quarter last year, compared to 8.1 billion riyals in the previous quarter, up 1%.
The Company announced spouse Kuwaiti Petrochemical Industries welcomed the Royal Commission for Jubail and Yanbu Project Complex "PTA / PET", and the company is currently completing procedures and the demands of the body, as it is under way to communicate with consulting firms specialized world to prepare a feasibility study and detailed selection of technical partner to ensure the needs of the project, The expected value for the project up to one billion dollars.
The company unveiled Kuwait China as having now with a Chinese company and Saudi partners to establish a factory in the eastern region at a cost of $ 40 million depends on its raw materials on the production company SABIC Petrochemicals, issued as part of its production to China, indicating that the project will begin immediately after the agreement with SABIC the contract for the purchase of raw materials.
As revealed by the Gulf companies intention to invest in Saudi market is still petrochemical companies Arabia suffer from lack of allocation of new quantities of ethane since 2006, and with inadequate supplies of gas for the expansion of production, will use petrochemical plants to use larger quantities of the types of feedstock other high relatively expensive, which will lead to higher costs, as will large investments in the field of gas announced by the Saudi Aramco recently to fill the demand gap through a few years.
The possibility of raising the price of feedstock obsession for petrochemical companies, Saudi Arabia, where the availability of basic raw materials "feedstock" such as ethane and naphtha at the lowest cost to the high margins for petrochemical producers Saudi Arabia, and helped them to acquire a stake in the global market, and development and innovation in order to go about innovative products is a challenge in front of the Saudi petrochemical sector, where companies need Saudi Arabia to invest in innovative products and derivatives, which will raise the added value and increase the productive base, which reduces the risk of fluctuating prices of specific products.
In these circumstances disclosed "SABIC" for further growth and investment and the opening of new projects in the next year, including the factory iron new, which will cover a large part of the local market needs, as well as to expand the product line of specialty chemicals for the production of high-performance, plastics engineering, which will be used, including in the automotive sector the future, where SABIC will take the initiative and for providing support to strengthen the demand for them.
The engineer Mohamed Al-Mady, CEO of Saudi Basic Industries "SABIC" announced that the expansion of "SABIC" will continue in the global markets, revealing the growth of the company's investment of Foreign Affairs and created a network marketing luxury serve the company's products, indicating that the company's presence in many emerging markets as a manufacturer and producer of a local Siguenn dumping lawsuits brought against the company from time to time.
He stressed that "SABIC" will not stand idly by as he put it and will move in several directions to meet any shortfall in natural gas, pointing out that SABIC could not stand in front of the obstacle as it seeks to work on the conversion of the basic materials of value-added or shift global markets other, confirming that significant investment in gas exploration is the best solution to achieve balance.
And recorded SABIC's largest petrochemical producer in the world in terms of market value growth of the net profit of 54% in the third quarter of this year to exceed the expectations of analysts to reach 8.19 billion riyals compared to 5.33 billion riyals for the same quarter last year, compared to 8.1 billion riyals in the previous quarter, up 1%.
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