Borouge, Khalifa Industrial Zone Abu Dhabi, KIZAD, National Industrialisation Company, Tasnee, and Oman Oil Refineries and Petroleum Industries Company, Orpic, have announced their association with ArabPlast 2019, which is set to take place from 5th to 8th January, 2019, at Dubai International Convention and Exhibition Centre.
DUBAI, (Pakistan Point News - 17th Dec, 2018) Borouge, Khalifa Industrial Zone Abu Dhabi, KIZAD, National Industrialisation Company, Tasnee, and Oman Oil Refineries and Petroleum Industries Company, Orpic, have announced their association with ArabPlast 2019, which is set to take place from 5th to 8th January, 2019, at Dubai International Convention and Exhibition Centre.
In a press conference at Grand Hyatt in Dubai, it was announced that Borouge will serve as a Strategic Partner, KIZAD as Support Sponsor, and Tasnee will be the Regional Associate for the high-net-worth event, whilst Orpic is the Gold Sponsor.
According to Ubhar Capital, shares in petrochemical companies in the Gulf Cooperation Council, GCC, performed better this year than in 2017 and the outlook looks decent for 2019. In 2018, earnings of GCC petrochemical companies stood at US$7.57 billion compared to the full year 2017 earnings of $7.45 billion, a rise of two per cent, as reported by the Ubhar Capital report.
"The GCC countries play a major role in meeting global demands related to plastics and petrochemicals. This has not only increased the productivity of the industry but also strengthened its growth," said Satish Khanna, General Manager, Al Fajer Information and Services, Dubai, organisers of ArabPlast 2019.
With the industry experiencing a steady growth, plans are already in place for a massive investment in the downstream sector, with more than $200 billion expected to be ploughed into new refining and petrochemicals ventures in the GCC countries by 2025. According to a new report released by the Paris-based International Energy Agency, IEA, Primary chemicals consumption will grow almost 60 percent to one billion tonnes by 2050, and the Gulf countries will account for 12 per cent of all global high value-chemicals.
"The petrochemical sector has considerable room for growth, and the Gulf represents the world’s fastest growing markets. We are confident that having Borouge, Tasnee and Orpic associate with ArabPlast 2019, will add value to the event, as well as open doors for comprehensive cooperation and business opportunities for visitors and participants," Khanna added.
Borouge is a leading petrochemical company that provides innovative, value creating plastics solutions. "We are glad to participate in ArabPlast this year as a strategic partner where we have the opportunity to meet with industry leaders to exchange ideas and discuss the best ways to move our business ahead," said Ahmed Al Shamsi, Senior Vice President Regional MEAE at Borouge.
KIZAD, a part of Abu Dhabi Ports, is a major integrated trade, logistics, industrial and free zone hub, which serves companies from the aluminium industry, polymers and plastics industry, food processing, logistics, construction, and automotive sectors. Tasnee is Saudi Arabia's first joint-stock industrial company, fully owned by the private sector with the aim of advancing the economic diversification in Saudi Arabia. Similarly, Orpic is owned by the Omani government and by Oman Oil Company SAOC, the commercial company also wholly owned by the Omani government created to pursue investment opportunities in the energy sector both inside and outside Oman.
In addition to the above, companies as ExxonMobil, Tawazon Chemical Company LLC, Enerplastics LLC, Basell International Trading FZE and Astra Polymers will also participate at ArabPlast 2019. This edition of ArabPlast will witness the presence from of more than 900 companies from 30 countries including 14 national pavilions.
Samir Chaturvedi, CEO of KIZAD, said, "Borouge is an important partner for KIZAD and together we are creating more in-country value for the UAE economy. This helps build a sustainable ecosystem for the development of polymer products, with a focus on leading the conversation around polymer sustainability. We look forward to exploring further collaboration together at ArabPlast 2019, a key event for UAE’s polymer converting industry."
