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GCC is expected to contribute more than 60 million metric tonnes of
petrochemicals to the world next year, according to the Gulf
Petrochemicals and Chemicals Association (GPCA).
GCC to offer 60m
tonnes of petrochemicals
The not-for-profit regional association, formed in March, disclosed
these statistics ahead of its first annual conference, which will
take place in Dubai on December 16 and 17.
The event is being held under the patronage of Shaikh Mohammad bin
Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and
Ruler of Dubai
Sabic vice-chairman and CEO Mohamed Al Mady, who has been elected as
the first chairman of GPCA, said: “The GCC is of great strategic
importance to the global petrochemicals and chemicals industry.
“We are estimating that these sectors will grow another 13 per cent
in the region by 2010.”
Meanwhile, GCC exports alone are expected to reach 50 million tonnes
Industry experts are increasingly looking at the region as the
centre of gravity for the global industry.
Part of the reason for GCC’s prominence can be attributed to easy
access to feedstock, access to the latest technology, and strategic
location at the intersection of the Americas, Asia and the rest of
Mohamed Al Mady added: “There is significant liquidity in this
market place for project finance which gives it an added competitive
edge. Furthermore, construction and labour costs are relatively low
and generous tax incentives for foreign partners”.