‘Plas­tic pro­duc­tion sec­tor has 40,000 job open­ings’

To­tal Gulf in­vest­ment $55 bil­lion

Arab Times - - LOCAL -

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.

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