Middle East producers form industry association

02 March 2006 02:27  [Source: ICIS news]

SINGAPORE (ICIS news)--Eight Middle Eastern petrochemical majors have formed an industry association to act as their collective voice and boost cooperation among regional producers.

The founding members of the association are Saudi Arabia's Sabic and National Petrochemical Industrialisation Co (Tasnee), Qatar Petrochemical and Qatar Vinyl, Abu Dhabi-based Borouge, Kuwait's Petrochemical Industries Co (PIC) and Equate, and Bahrain's Gulf Petrochemical Industries.

They signed a memorandum of understanding on Wednesday to form the Gulf Petrochemicals and Chemicals Association (GPCA), Sabic said on Thursday. The association will be based in Dubai, the United Arab Emirates.

The association will allow members to share information, promote fair competition, research and development in the Gulf. It will also act as the industry's mouthpiece to address general issues.

“It is no secret that serious cooperation between the region’s major producers has not developed according to our aspirations," said Sabic’s Chief Executive Officer Mohamed Al-Mady, who is also the GPCA's first chairman. “I believe the GPCA addresses this deficiency and in turn will play a major role in fostering cooperation.”

“Topics like environmental issues, safety and regulation, logistics, education, standardisation and the promotion of the petrochemicals and chemicals downstream industry can be addressed more efficiently if we are speaking in one voice," he added.

By: Florence Tan
+65 6780 4359

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 3 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly