Saudi Basic Industries Corporation will set up an SR375 million Plastic Applications Development Center at Riyadh Techno Valley, said Khalid A. Al-Mana, Sabic's Vice President, Polymers Division. Al-Mana was speaking at a joint press conference to announce the opening of Saudi Print, Packaging, Plastic and Petrochemical (Saudi PPPP 2009) in Riyadh on Oct. 18. Abdullah Zainal Ali Reza, minister of commerce and industry, will open the four-day event at Riyadh International Exhibition Center, King Abdullah Road in Riyadh. Al-Mana said Sabic's center spread over an area of 110,000 square meters will be ready by 2012 and will help Saudi Arabia's downstream industry produce diversified plastic products for a wide range of applications. “To further demonstrate the company's ongoing commitment to develop the polymer industry, Sabic has endowed a chair in polymer research at King Saud University,” he said. Al-Mana said that Sabic during the next few years will begin to produce elastomers for use in tire and automotive interior and exterior manufacturing, thus entering the automotive industry, a fast growing sector in Saudi Arabia. Sabic is one of the world's top producers of polymers, a fast growing class of petrochemicals that's rapidly replacing the traditional materials such as wood, cotton and glass, he said. He said Sabic is at the forefront of polymer technological development and manufacturing. Most of the Sabic's polymer production is taking place in the Kingdom's industrial cities of Jubail and Yanbu, he said adding Sabic's production of thermoplastic resins will reach 12.5 MT by the end of 2013. Al-Mana said Sabic, diamond sponsor of Saudi PPPP 2009, will display its materials produced at the company's various manufacturing units in Saudi Arabia for the international participants of the exhibition. Fadi Kaddoura, vice president, Sales and Marketing, REC, said over 500 companies representing 24 countries will participate in the Saudi PPPP, which is purely a trade event open for business visitors. Saudi Arabia has emerged as the most attractive investment destination in the Middle East's petrochemical, printing, packaging and plastic industries, he said. The estimated amount of petrochemicals project stood at SR172.5 billion, “which will dramatically increase Saudi Arabia's production capacity and further consolidate the country's position as a leading producer and supplier in the regional and international petrochemicals industry.” He said the event will offer opportunities for the businessmen to tap into the Kingdom's business potential in areas such as printing, packaging, plastic and petrochemicals industries and build strategic partnerships,” he said. On the other hand, recent reports have revealed that the Saudi printing industry continues to grow by 15 percent annually as printing expenditure in Saudi Arabia has been at an all-time high, he added. At 40 kilograms per capita consumption, Saudi Arabia's plastics rates twice as much as any other GCC country, even as the country's packaging sector accounts for up to 70 percent of the GCC packaging market, valued at $2 billion. The trade event's confirmed exhibitors now represent a substantial 77.4 percent increase in participation, while exhibition space has been expanded by 100 percent to reach 15,000 square meters.
