SABIC forecasts increase in polymers sales volume for South East Asia in the next five years
Posted: 27 April 2005
Plans to establish six more warehouses for polymers in the Asia Pacific region in 2006
Saudi Basic Industries Corporation (SABIC) is expecting its sales volume for polymers in South East Asia to increase considerably over the next five years.
At SABIC’s customer reception held this evening in conjunction with ASEANPLAS 2005, SABIC’s Vice President for Polyolefins, Dr Abdulrahman Al-Ubaid said,
“Our sales volume for South East Asia is expected to double in the next five years as South East Asia is a booming market for chemical products.
“Recognizing the rising demand for petrochemical products in Asia, SABIC is expanding its operations in the Middle East to meet this demand.” he said.
SABIC’s current and planned investment for expansions exceed US$8 billion and aims to increase annual production from 43 million metric tons in 2004 to more than 60 million metric tons by 2008.
“ Asia is a very important market for SABIC. SABIC is continually improving its services to better service its customers in this region. We intend to localize our production facilities in Asia to be nearer to our customers and we are undertaking feasibilities to look for the best options,” said Dr Al-Ubaid.
SABIC General Manager for Asia Pacific, Yousef Al-Benyan said, “SABIC also intends to expand its network and warehousing facilities for polymers to meet increasing demand and to better serve its customers. We currently have three warehouses – one each in Shanghai, Singapore and Hong Kong. By 2006, we intend to include six more warehouses in the Asia Pacific region. These would be located in Vietnam, China, Australia and New Zealand. Having these warehouses will enable us to shorten delivery time to our valued customers.”
For more information see www.sabic.com