Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    Harris tells supporters 'never give up' and urges peaceful transfer of power    Italy's 'Libra' to arrive in Albania with just eight migrants on board    South Africa shuts border crossing with Mozambique over poll unrest    French families sue TikTok over harmful content that allegedly led to suicides    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Neymar suffers muscle tear, out for 4-6 weeks    Arab leaders and heads of state congratulate US President-elect Donald Trump    Building the future of the region's leading aviation hub Saudi Airport Exhibition 2024 to be held on Nov. 11-12    Crown Prince, Pakistan Army Chief discuss ways to enhance military cooperation    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    King Salman and Crown Prince congratulate Trump on winning US presidential election    Heavy Equipment and Truck Show to spotlight Tata Motors' cutting-edge mobility solutions    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Top climber falls to death after rare Himalayan feat    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Kingdom largest plastic converter in Gulf
Published in The Saudi Gazette on 09 - 04 - 2014

JEDDAH – The GCC plastics industry offers a tremendous opportunity for the emergence of a dynamic and innovative small and medium enterprises (SME) sector, observed the Gulf Petrochemicals & Chemicals Association (GPCA), the region's longest- standing trade association during the 5th International Conference for Plastic Conversion, PlastiCon 2014, taking place in the Expo Centre Sharjah from April 7-9, 2014.
"Manufacturers who transform basic plastic products into finished goods represent nearly 20 percent of the region's plastic industry," said Dr. Abdulwahab Al-Sadoun, Secretary-General of the GPCA. "These plastics converters introduce a number of additives to manufacture finished goods that suit the requirements of a diverse range of industries."
According to GPCA research, the plastics conversion market comprises over 1,000 companies that can be classified as small and medium enterprises, including family owned businesses and startups.
"SMEs are today at the the forefront of business innovation in the Middle East," Dr. Sadoun added. "SMEs involved in plastics conversion are particularly innovative as they extend the plastics supply chain by creating value-added products for the construction, infrastructure and food & beverage sectors, while creating thousands of new jobs."
Saudi Arabia is currently spearheading this niche, representing 62 percent of the GCC's plastic conversion market. The Kingdom also leads the plastics market, producing an estimated 18.4 million tons, or 74 percent of the region's polymer production capacity.
The United Arab Emirates is the second largest plastic converter in the GCC, after Saudi Arabia, accounting for 19 percent of the total regional output. The country also ranks second in total plastics manufacturing capacity, representing 10.2 percent of the region's polymer capacity.
GPCA has predicted that, by the end of the decade, the region's plastics conversion will grow to reach 7.5 million tons capacity, an increase of nearly 40 percent of its current output.
"This growth represents a huge opportunity for the emergence of new enterprises," Dr. Sadoun further said. "Along with increased competition for the region's major players, the rise of SMEs will be transformative as it not only represents the forefront of commercial innovation, but also the creation of thousands of jobs."
Now in its fifth edition, Plasticon2014 focuses on how innovation can lead to global and regional growth of the plastics conversion industry, featuring speakers from the region's top petrochemical companies including SABIC, Borouge and Sadara Chemical Company.
On the occasion of PlastiCon 2014, GPCA published the report “GCC Plastics Industry Indicators 2013”, which will be available on its website gpcaplastics.com/2014/ – SG


Clic here to read the story from its source.