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FINANCIAL NEWS
Saudi to invest USD60b in petrochemical projects
25 Nov 2014
(MENAFN) According to MEED, the Middle East Business Intelligence, Saudi Arabia currently has 26 projects worth USD15 billion under way in the Saudi petrochemical sector, while another USD46 billion worth projects are under planning stage, Arab News reported.
However, the petrochemical sector is not the only sector registering growth. The plastic industry is also being developed to support economic diversification away from hydrocarbons, as it is poised to invest as well to install the latest technologies, products and services in its facilities.
MEED said that the Western Region, which is home to almost one-third of country’s plastic and petrochemical industries, currently boast more than 50 percent of both sectors’ production, as well as being the most populated region in the country with major ports and commercial centers.
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