Home / Knowledge / News / Textiles / Gulf companies invest in S E Asian petrochemical projects
Gulf companies invest in S E Asian petrochemical projects
16
Feb '13
Gulf companies are investing in several South East Asian petrochemical projects due to the rising demand for petrochemical products in the region.

The Qatar Investment Authority (QIA) plans to commit US$ 5 billion investment in the Pengerang Integrated Petrochemical Complex in Malaysia, while the Saudi Aramco has signed a Memorandum of Understanding (Mou) with PT Pertamina (Persero), Indonesia’s state oil and gas company, to jointly build an integrated refining and petrochemical project in Indonesia.

Vice-president of marketing, supply and joint venture coordination of Saudi Aramco, Mr. Dawood M Dawood told fibre2fashion, “The project represents an opportunity for the company to partner with Pertamina and to capitalize on investment opportunities in Indonesia’s growing downstream industry.”

“The MoU also increases prospects for industrialization and economic diversification in Indonesia,” he adds.

Talking about the partnership, director of investment planning and risk management of Pertamina, Mr. M Afdal Bahaudin says, “The cooperation with Saudi Aramco will strengthen the petrochemical supply to satisfy the huge domestic demand for petrochemical products in Southeast Asia.”

Earlier, the vice-president of QIA’s global investment house-Qatar Holdings (LLC), Mr. Hussain Ali al-Abdulla had said that initially the authority is planning to make an investment of US$ 5 billion in the Malaysian petrochemical complex and gradually increase it to US$ 10 billion in different sectors.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Tony Ward
Tony Ward

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search