Home / Knowledge / News / Textiles / 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 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Paolo Ocleppo
Sandvik Hyperion

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Tony Ward
Tony Ward

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search