Saudi petrochemical output to reach $453.3b by 2030

By our business bureau

RIYADH: The Saudi Plastic and Petrochemical Exhibition concluded its successful edition this year after the wide turnout from a range of elite government figures, decision-makers, regional and international experts, pioneers from within the Kingdom of Saudi Arabia and around the globe as they proposed and showcased new innovative platforms, products and services related to the plastics and petrochemical industries.
The event, organised by "Riyadh Exhibitions Company", was sponsored by SABIC, with support of public and private sector entities. The event paves a direct gateway to the investment opportunities in the Saudi market to coincide with national efforts to increase the output of petrochemical industries to $ 453.3 billion by 2030.
The 16th edition of the Saudi Plastic and Petrochemical Industries Exhibition, sponsored by SABIC as Diamond Sponsor, received critical acclaim from both regional and international exhibitors who have made significant deals and partnerships with Saudi companies in support of plans to develop high-value industrial products and activate the contribution of the plastic and petrochemical sector in driving the growth and diversification of the economy in line with the goals of the National Transformation Program 2020 and Saudi Vision 2030.
The event coincided with the 16th edition of the Saudi Printing & Packaging Exhibition, which attracted a wide range of national companies to learn about the latest technologies, services and products related to packaging and printing. The event also received acclaim from international pioneers for showcasing the many opportunities available in the Kingdom and demonstrating the country as a promising market for printing technologies and innovations of packaging.
Mohammad Al Al-Sheikh, Head of Marketing, Riyadh Exhibition Company Ltd, said: "The strong momentum achieved by the successful 16th edition of the event reflects the leading level of the Saudi Plastic & Petrochemicals Exhibition as a strategic platform for fruitful partnerships between Saudi and regional and international pioneers. Such a platform paves the way for huge investment opportunities within the Saudi market under the incentives, facilities and government support provided to activate the contribution of vital industries to diversify income sources in the Kingdom by 2030."
He added: "We are delighted to have welcomed a huge number of visitors to the exhibition. This reflects the growing interest in investment prospects within the plastics, petrochemical, printing and packaging sectors within the Kingdom of Saudi Arabia. The exhibitions provided an ideal opportunity to learn about the latest technologies, equipment and solutions offered by the world's leading manufacturers, as well as explore the latest innovations and trends in environmentally friendly solutions that will add significant importance to the Saudi petrochemical sector's growth-- which is growing at an annual rate of 7 per cent, thus enhancing its role as a vital resource of the tributaries of the national economy."
Al Sheikh concluded: "The SABIC workshops, which ran throughout the exhibition, were one of the most attractive events that gave the attendees an overview of the most important and latest solutions related to these vital sectors that provide an integrated manufacturing base. We look forward to organizing the next edition of the Saudi Plastic and Petrochemical Industries Exhibition from 13-16 January 2020, at the Riyadh International Convention & Exhibition Center - a continuation of our achievements in providing the Saudi market with the finest events and exhibitions to explore the future of pivotal sectors that strengthen the Kingdom's leadership position as an influential force on the global economic map."
The Saudi Plastics and Petrochemical Industries Exhibition 2019 was held at the Jeddah Center for Forums and Events and witnessed a remarkable presence and extensive participation to complement the great momentum of the previous editions.