Saudi Arabia has taken an important step in consolidating its position as one of the biggest players in the global petrochemical industry, with a bold move to invest over SR172.5 billion to build three of the largest and most ambitious petrochemical projects in the world. The projects, which collectively involve more than 150,000 engineers and technicians working around the clock, will enable Saudi Arabia to produce a wider variety of polymers and bi-products, considerably expanding the country's portfolio of petrochemical offerings and substantially increasing its global market base. One of the projects, the Ras Tanura Integrated Project (RTIP), is a massive SR101.25 billion venture that will build the largest petrochemical facility of its kind in the world, producing 11 million tons per annum of various petrochemical and chemical products. Around SR33.75 billion is also being invested to build the world's largest integrated petrochemicals facility in Jubail Industrial City, with a capacity of six million tons per annum, while the SR37.5 billion Petro Rabigh Refinery upgrade project will enable the facility to increase its production capacity to 2.4 million metric tons, making it one of the world's largest integrated oil refining and petrochemical facilities. Saudi Petrochem 2009 - the 4th International Exhibition for the Chemicals and Chemical Technology Industry, is poised to gather global industry leaders and decision makers as well as key officials from the Saudi government, creating a powerful assembly of industry stakeholders who will discuss and identify new business opportunities and growth prospects in the country. Saudi Petrochem 2009 will be held concurrently with Saudi Print 2009 - the 9th International Pre-press and Printing Technology Exhibition; Saudi Plas 2009 - the 9th International Plastics Technology Show; and Saudi Pack 2009 - the 9th International Packing Machinery and Materials Show. Collectively branded as “Saudi PPPP 2009,” the concurrent events will be held at the new, state-of-the-art Riyadh International Exhibition Centre on Oct.18-21, 2009. Saudi PPPP 2009 seeks to leverage Saudi Arabia's status as the Middle East's fastest-growing market for the petrochemical, printing, packaging and plastic industries, providing key players in the four sectors an integrated platform to establish a foothold in the lucrative Saudi market. Kamil Jawhari, project manager of Saudi Petrochem at Riyadh Exhibitions Company, organizer of Saudi PPPP 2009, said “these high-stakes investments in petrochemical initiatives are important for the global market as Saudi Arabia currently accounts for up to 70 percent of petrochemical production in the GCC, while the country's influence on the global supply line has improved dramatically with the completion of several large-scale production facilities over the past few years. Furthermore, we have achieved a dramatic increase in participation this year in all events, despite the unfavorable global economic conditions, clearly indicating that international industry players remain bullish and optimistic about Saudi Arabia's long-term stability and growth potential.” The energetic response of international companies from countries such as Italy, South Korea, Taiwan, Austria, China, Iran, Egypt, India and the UAE for Saudi PPPP 2009 coincides with the robust performance of the country in all the industries covered by the joint exhibitions. As indicated earlier, Saudi Arabia has made substantial investments in large-scale petrochemical projects, which have been largely credited for the dramatic increase in new production capacity across the Middle East. On the other hand, recent reports have revealed that the Saudi printing industry continues to grow by 15 percent annually as printing expenditure in Saudi Arabia has been at an all-time high. At 40 kilograms a head, Saudi Arabia's consumption of plastics rates twice as much as any other GCC country, even as the country's packaging sector accounts for up to 70 percent of the GCC packaging market, valued at $2 billion. Riyadh Exhibitions Company has revealed that over 390 international companies, including 170 new participating firms, have already confirmed participation at Saudi PPPP 2009. This year's participants represent a substantial 77.4 percent increase, and the exhibition space has been expanded by 100 percent to reach 15,000 square meters.
