Saudi Arabia controls petchem industry growth in GCC
21 Mar 2017
(MENAFN) Saudi Arabia led GCC petrochemical industry growth last year, increasing by 5.8 percent, as proclaimed the Gulf Petrochemicals and Chemicals Association.
Accordingly, the Gulf region’s petrochemicals industry increased faster than global average in 2016, of 2.2 percent due to a new capacity added in the kingdom.
Meanwhile, Saudi Arabia continues to control leadership in the expansion and development of the downstream industry in the Gulf region.
However, a fall from the Gulf chemical industry’s growth was reported of 5 percent in 2015, due to feedstock and global economic uncertainty.