Al-Faresi: USD 250 billion value of Gulf Petrochemical investments by 2015 EQUATE sponsors GPCA PlastCon 2013

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Date(s) - 06 April 2013
12:00 am

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Kuwait – April 6 -2013 — EQUATE Petrochemical Company said that Gulf petrochemical investments will exceed USD 250 billion by 2015.

On the occasion of EQUATE’s sponsorship of the Gulf Petrochemicals & Chemicals Association (GPCA) 4th International Conference for Plastics Conversion (PlastCon 2013), EQUATE Procurement Director Muayad Al-Faresi said, “Currently, most petrochemical downstream industries in the entire Gulf are somewhat basic and not that sizable due to these countries being mainly exporters of basic petrochemical products.”

Al-Faresi, who is also the Vice Chairman of GPCA Plastics Committee, added, “Having an ambitious and productive downstream industry requires having a suitable local market to consume the output or ensuring that these exports will find sustainable markets.”

With the participation of over 250 persons representing the global petrochemical industry, PlastCon 2013 will take place during April 7-9 in Dubai to discuss several topics including challenges facing plastic manufacturers and exporting plastics to international markets.

Established in 1995, EQUATE is an international joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is the single operator of a fully integrated world-scale manufacturing facility producing over 5 million tons annually of high-quality petrochemical products which are marketed throughout the Middle East, Asia, Africa and Europe.