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GOIC to host Petrochemical World Summit in 2009

30
May '08
The Gulf Organization for Industrial Consulting (GOIC), in collaboration with Summit Events will organize Petrochemical World Summit in November 2009 in Qatar. The aim behind holding this massive exhibition is to take this sector to a much higher level by bringing together the leaders in this field.

The expo will also strengthen alliances between the Middle East and China. It plans to take advantage of twin benefits of availability of low cost feedstock in the Gulf region and China's access to the Asian region.

Experts believe that, the volume of investments in this sector will rise significantly to US $120 billion by 2010. Middle East will mainly focus on increasing the production of ethylene, a basic petrochemical product, during next five years.

As a result, ethylene production will double in 2010, in GCC member states and Iran. This capacity expansion will able to meet 20 percent of the entire global requirement.

The organization has always taken initiative in helping the enterprises in enhancing the production capacity related to petrochemicals among Gulf Cooperation Council (GCC) members.


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