‘Plastic production sector has 40,000 job openings’
Total Gulf investment $55 billion
KUWAIT CITY, Sept 28: Secretary-General of Gulf Petrochemicals and Chemicals Association (GPCA) Dr Abdulwahab Al-Saadoun says the member organizations of the association contribute to 95 percent of chemical production in the Gulf region, reports Aljarida daily.
He affirmed that the chemical production sector is considered as the second largest industrial sector in the region with total investment of $108 billion per year.
Dr Al-Saadoun revealed that the total Gulf investment in plastic production is $55 billion, which is expected to increase by $17 billion in the coming five years and thus increase the total investments in plastic production to $72 billion by the year 2022.
He indicated that the plastic production sector in the Gulf region has about 40,000 job openings as well as 118,000 others in the support sectors such as transportation and other services.
Dr Al-Saadoun explained that the Gulf plastic production constitutes nine percent of the total plastic production internationally.
The Gulf revenues from sale of plastic represent four percent of the global plastic sales with $851 billion in 2016.
The United Arab Emirates took first place among the GCC countries in plastic production with yearly growth of 24.4 percent. Saudi Arabia produces 67 percent of the Gulf plastic and uses 61 percent, while the UAE comes in the second place with 19 percent.
He indicated that plastic production is expected to reach 35 million tons by the year 2022 along with production of varied products such as rubber, clinical and engineering plastic, etc.
Dr Al-Saadoun said, “By 2022, 89 percent of commodities will be manufactured from plastic”, adding that the plastic production in the Gulf countries is achieving 7.5 percent of annual growth.