Wednesday, December 11, 2019
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Kingdom plans SR236bn petchem investment

The German-Saudi Arabian Liaison Office for Economic Affairs has organized a delegation trip of German companies with focus on petrochemicals to Jubail and Riyadh. The tour, which began on Saturday, ends on Wednesday.
In Jubail, the delegation held roundtable discussions with representatives of the Royal Commission of Yanbu & Jubail.
After visiting Saudi Basic Industries Corporation (SABIC) and Talke SA, the delegation met with local multipliers and representatives of German companies in the Eastern Province. Before the delegation continued its trip to Riyadh they held B2B meetings in the Asharqia Chamber in Jubail.
In Riyadh, they had a meeting with Abdullah Saleh Al-Hagbani, chairman of the International Cooperation Committee (ICC), secretary general of the Petrochemical Manufacturers Committee (PMC) and vice chairman of the Saudi Exports Development Center (SEDC) at the Council of Saudi Chambers (CSC).
Part of the program was also a visit to the Saudi Print, Plastics, Petrochem & Packaging (PPPP) exhibition, described as the most prominent event of its kind in the region, combining all aspects of the sector locally, regionally and internationally, and the ideal business-to-business networking platform for key decision-makers, industrialists, developers and other professionals.
The Kingdom plans to invest nearly SR236 billion in new projects to stimulate petrochemical industry, a step seen to keep the Kingdom’s position as one of the best petrochemical players globally.