More investments needed for GCC chems infrastructure - EQUATE

25 October 2010 13:52  [Source: ICIS news]

BAHRAIN (ICIS)--Producers in the Gulf Cooperation Council (GCC) countries and the wider Middle East should collectively push investments ahead to mitigate pressures on existing infrastructure facilities, a top executive from EQUATE Petrochemical said on Monday.

“We should encourage more investments in infrastructure to supplement the surge in [the region’s] exports,” said EQUATE president and CEO Hamad al-Terkait on the sidelines of the Gulf Petrochemical and Chemical Association (GPCA) Supply Chain forum in Bahrain.

One infrastructure problem noted by Al-Terkait was the highly congested key free-trade zone facilities located in Dubai, Jebel Ali Free Zone.

“Jebel Ali Free Zone remains the dominating [free-trade] zone in the GCC region,” Al-Terkait said, adding that alternative free-trade zones should be considered and developed as a solution to ease the heavy trade flow.

“Those [projects] in the pipeline include Salalah Free Zone in Oman and Jubail 2 project in Saudi Arabia,” he added.

The GPCA Supply Chain forum ends on 26 October.

EQUATE is a joint venture between Petrochemical Industries Co (PIC), Dow Chemical, Boubyan Petrochemical Co and Qurain Petrochemical Industries Co.

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By: Yu Guo
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