Major Role of Bahrain in the investment of polymers production to meet the intensifying demand for plastics in the Kingdom and neighbouring countries
In Bahrain, the petrochemical industry is the strength of industrial development and plays key role in the Kingdom’s economy. The industry has created new downstream industries in Bahrain such as chemicals, detergents, paint, medical and industrial gases, plastics, synthetic sponges, glass, and heat insulators. These industrial sectors are attracting private sector investors due to lower investment and high profitability.
As per the reports, according to the organizers of Arabplast 2013, Bahrain will be investing in the production of plastics polymers and will supply to the annual plastics consumption growth in the Gulf. Major sponsors for Arabplast 2013 include QAPCO, BOROUGE, NATPET, PETRORABIGH and TASNEE. Arabplast 2013 will be 34 percent bigger than the 2011 edition, following record number of exhibitors and sponsors. Various companies from 47 countries are participating along with 26000 trade visitors from 107 countries.
There was a press conference organized for Middle East premier trade show for rubber, plastics and petrochemicals in Manama by Messe Düsseldorf Germany and Al Fajer Information and Services and organizers of Arabplast. The organisers of the show said that a large number of Bahraini investors, including banks, manufacturers and funding companies, will be investing into the rapidly growing GCCpolymers industry. Here, even the speakers stressed on the essential role played by Bahrain’s petrochemicals industry which channels its output to more than 150 countries worldwide.
As per the report, Satish Khanna, General Manager of Al Fajer Information and Services said that Bahrain is increasing its share of the production of petrochemicals which is becoming a key driver of the Kingdom’s economy and which enhances its economy diversification drive. He also said that, even though just 20% of the GCC petrochemical products are plastics, they account for 70% in terms of value, due to which the Bahrain region will emerge as the second highest per-capita consumer of plastics in the world by 2020. He also said that, the Gulf is the export hub of plastics raw material to the world and Bahrain is playing a key role in sustaining the position of the Gulf as a support in the production of plastics in the world.