Home / Knowledge / News / Technology & innovation to drive Gulf petrochemical sector
Technology & innovation to drive Gulf petrochemical sector
04
Dec '12
Technology and innovation are the two focus areas for Gulf petrochemical industry, Saudi Basic Industries Corporation (Sabic) Vice Chairman and CEO, Mohamed Al-Mady said while speaking at the Seventh GPCA Forum held in Dubai under the theme “Sustaining Competitiveness in a Rapidly Changing World.”
 
Mr. Al-Mady, who also is the Chairman of the Gulf Petrochemicals and Chemicals Association (GPCA), said the industry should design products in view of global demand and try to offer technologically-advanced products.
 
Delivering his inaugural speech at the three-day forum, the Sabic head said the global petrochemical industry has made great efforts to recuperate from the crash experienced in 2008 and early 2009. The Gulf industry has also articulated great strength and buoyancy, but it is still in its embryonic stage.
 
Technology and innovation have a higher impact on the region’s future competitive edge, than feedstock prices and supply. Hence, they need to focus on offering more technologically-advanced and better designed products to the consumers.
 
Highlighting the significance of sustainability, Mr. Al-Mady said sustainability plays a major role in the competitive scene, as while offering more feedstock options it also helps in cutting wastage.
 
Soaring energy and water costs have compelled several chemical firms to improve efficiency to cut costs, while the Government regulations have forced them to make technological upgradations to cut waste.
 
It is important to achieve a balance between use of hydrocarbons for producing water and electricity and development of value-added downstream industries, he said.
 
Held annually, the GPCA forum is a major event for the global petrochemical and chemical industry, which offers participants and visitors an opportunity to get in touch with and develop contacts with industry heads and decision-makers, and also to develop an insight about the present-day market.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 27th Aug 2016

French textile machinery makers to show at ITMA CITME

Seven French textile machinery manufacturers will showcase their...

courtesy: JLL

Apparel/Garments | On 27th Aug 2016

Indian cities clocking fastest retail growth: Report

Indian cities such as Bangalore, Hyderabad, Delhi and Pune are...

courtesy: Delta Galil

Fashion | On 27th Aug 2016

VF Corp completes sale of 3 brands to Delta Galil

VF Corporation, a global leader in the design, manufacture, marketing ...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
August 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search