The Royal Commission hosts the Second Saudi Downstream Forum 6-7 March 2012

The Royal Commission for Jubail and Yanbu hosts the Second Saudi Downstream Forum & Exhibition, which will be held under the Patronage of the Custodian of the Two Holy Mosques King Abdullah Bin Abdulaziz Al Saud on 6-7 March 2012, at Al-Fanateer Cultural Center in Jubail Industrial City, Saudi Arabia. End Quote

(1888PressRelease) March 06, 2012 - The Forum will present the Kingdom's strategic role in supporting the integration of the primary petrochemical industries and downstream industries and the Kingdom's key role in the growth of international economy. The Royal Commission has invited national and international specialist investment companies, to enhance the use of the petrochemical and mineral products of the primary industries in the Kingdom as feedstock. A large portion of these products is exported to international markets. By this forum, the Royal Commission aims at focusing on utilization of petrochemical and mineral products of the primary industries as feedstock in order to achieve industrial integration through investment in downstream industries which depend on the primary industries products as feedstock. Reports show that approximately 85% of the polymers produced by primary petrochemical industries in the Kingdom are exported to international markets, and that investment in the downstream industries will, in addition to the industrial integration, realize the comprehensive economic development that contributes to diversifying sources of income and provides promising job opportunities.

Competition in the international market, particularly with countries such as China and India which have high production capacities, and large local markets backed by the ability to absorb these products, is considered the major obstacle that hinders the establishment of large downstream industries in the Kingdom. The Royal Commission is currently working to enhance competitiveness of downstream industries by adopting initiatives in this respect, such as cluster services, developing special sites for research and development centres, logistic services and providing high quality and reliable services.

It is expected that the outcome of this Forum will assist in taking practical steps to realize promising initiatives and to overcome the obstacles the investors may face.

###

space

Other Related Press Releases