Three major petrochemical companies from South East Asia have begun operations from Dubai as DMCC-registered members, Dubai Multi Commodities Centre (DMCC) said on Monday. PTT Polymer Marketing DMCC, Titan DMCC and SCG Plastics Company Ltd. will use the DMCC free zone in Dubai as their Middle East base, to further develop and establish new regional business opportunities, reinforcing the emirate's growing importance as a hub for Energy and petrochemical companies. Dr. David Rutledge, chief executive officer, DMCC, said: “As a major producer and exporter of petrochemicals and plastics, the Middle East offers the most cost-effective feedstock for petrochemical companies. In addition to a strategic location between the African, European, Middle East and Asia-Pacific markets, the bunkering facilities around Dubai prove to be an attractive value proposition for energy companies to establish their base here. We are pleased to welcome these prominent petrochemical companies to Dubai and DMCC.” James Bernard, associate director - Commodities, DMCC, said: “According to recent market studies, Middle East plastic feedstock exports are expected to increase from 4.3 million tons in 2008 to 11.7 million tons in 2013, an increase of nearly 172 percent. Such encouraging figures highlight the immense opportunities in the region for plastics and petrochemical companies. The DMCC free zone continues to witness considerable interest from global energy-related industries, wishing to exploit these facilities and target regional partnership opportunities to further grow their market share. Companies like PTT, Titan and SCG Plastics find it very reassuring to be in an established and well regulated environment situated in the industrial hub.” PTT Polymer Marketing DMCC is fully-owned by PTT Polymers whose parent company is the PTT Group, Thailand's national oil company and a leading petroleum trading company in Southeast Asia. The company will focus mainly on the Polymer business which is increasing rapidly within the region. This will be the second PTT company to be established in the DMCC free zone. __
