| 29 Aug 2008 |
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Bahrain-based Gulf Petrochemical Industries Company to shape future strategy
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Initiates study to evaluate development plans
Bahrain-based Gulf Petrochemical Industries Company (GPIC)Gulf Petrochemical Industries Company (GPIC)
initiated a study to evaluate the company's strategy for the year 2020.The company in a statement said the initiative was part of GPICGPIC
's policy of ensuring its continuous success and drawing up practical strategies that keep abreast with future developments. The company announced the launch of its future strategic vision project up to the year 2020. The study envisages drawing up an expansion plan for the company over the next decade to include new investment projects in the petrochemical industry in the Kingdom of Bahrain and on regional and international levels. This study will continue until October of this year when a detailed report will be submitted containing the overall strategic plan which will guide the company's growth and expansion until 2020 and provide a road map and the mechanism to be adopted to achieve these objectives.
GPICGPIC
has assigned consultant company Arthur D. Little with the task of conducting the necessary studies to draw up the future strategic plan in partnership with a group of GPICGPIC specialists. Arthur D. Little is considered one of the best specialised companies in the field of future strategic studies. Abdulrahman Jawahery, the General Manager of GPICGPIC
, the company's future vision is part of the policy drawn up by the GPICGPIC Chairman and shareholders to further enhance the company's industrial expertise. The selection of Arthur D Little to carry out this strategic project is due to its long-term experience in this field and its business with many regional and international companies involved in petrochemicals as well as other industrial areas. Jawahery explained that the study focused on four major topics primarily based upon the use of natural gas as feedstock.He said the continuous efforts undertaken by the National Oil and Gas Authority (NOGA) led by Dr. Abdul Husain bin Ali Mirza, Minister of Oil and Gas Affairs in meeting the future gas requirements for future generations, which would further reassure GPICGPIC
on the future of natural gas in the Kingdom of Bahrain. The remaining topics focus on the downstream manufacture of products derived from the company's output of ammonia, methanol and urea or finding alternatives for feedstock used in the petrochemical industry, in addition to the investment opportunities available through investing outside the Kingdom by entering into joint ventures. In the sidelines of the study, GPICGPIC
organised a workshop, which is one of a total of five workshops to be held by the company as part of studying its future vision, in which executive management members, department superintendents and representatives of the consulting firm participated in discussing the elements of strength, weakness, available opportunities and challenges facing GPICGPIC at the present time and in the future. The significance of these points lies in identifying the challenges facing the company to enable it to establish suitable plans and find solutions to overcome such difficulties and challenges. Jawahery said the results of this strategic study will help produce a qualitative transformation in the company's history that will extend for more than 25 years of continuous achievements and successes. These projects will help create new job opportunities for the Bahraini manpower and boost the national economy.
By: Mahmood Rafique
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