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FINANCIAL NEWS
UAE petchem investments to hit USD12b by 2015
07 Dec 2012
(MENAFN) The Gulf Petrochemicals and Chemicals Association (GPCA) stated that by 2015, the UAE’s investments in the petrochemicals industry would grow to around USD12 billion, reported Emirates 24/7.
The Dubai-based association said that the growth will be driven by new big projects that would continue to place the country as one of the world’s major producers of the gas-based substance.
In the period, the Gulf Cooperation Council’s (GCC) total petrochemicals investments will go up to around USD250 billion, boosted by USD50 billion projects expected to be launched in the sector.
It is worth noting that last year, the GCC’s production of chemicals and petrochemicals reached nearly 120 million tons, bringing USD75 billion in revenue.
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