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FINANCIAL NEWS
India exempts Saudi petchem exports from dumping duties
04 Jan 2012
(MENAFN) India joined China and EU lifting an anti-dumping duty on Saudi Arabian polypropylene, Bloomberg reported.
India imposed a 6.5 percent duty in November 2010 on polypropylene imports from Saudi companies including Saudi Basic Industries, Advanced Petrochemicals and National Industrialization, over dumping claims.
Oil Minister S. Jaipal Reddy said last month that India is seeking additional oil and natural gas from Persian GCC including Saudi Arabia, however US and EU sanctions against Iran pose threatens the supplies.
Polypropylene is a plastic polymer used in products such as carpets, food containers and car parts.
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