Delegates to the petrochemical and refining conference which opened here Sunday expressed optimism of the competitiveness of the Saudi petrochemical industry as shown by the big turnout of delegates and regional and international exhibitors. The conference, Petrochem Arabia 2009, is being held at the Dhahran International Exhibition Center. It will run for three days. Abdulaziz A. Al-Zeyad, assistant secretary-general of the Federation of GCC Chambers of Commerce and Industry, was the first to voice that the sign of stability to the petrochemical industry has returned. In his speech that officially opened the conference, he said that the continued inflows of investments into the petrochemical sector are sign that stability is apparent. Prince Sulaiman Abdulrahman Bin Al-Thonayyan, Al-Khobar governor, who opened the exhibition, said that the presence of international companies participating in the show is clear indication that the Saudi petrochemical industry continues to attract foreign interest. Over 70 companies are taking part in the exhibition, including the giant Chinese oil company Sinopec. Several European and North American companies have also taken huge spaces in the exhibition center. Over leading 200 delegates are attending the conference and exhibition. Organizers of the conference said that the Saudi petrochemical industry will reap investment of over $180 billion up to the year 2012. They said that during the next five years local producers will double their production from their current output. Among the multinational energy companies taking part in the exhibition are ExxonMobil, Sumitomo of Japan, Sipchem, and Sinopec. Leading contractors, such as Nesma & Partners, and top providers of systems equipment to the oil and gas sector, like Alaa Industries, have big presence in the exhibition. Twenty speakers, whose expertise supports the petrochemical industry, will discuss challenges facing the sector during the next two days.
