22 June 2004
Chemtex and Corrosion 2004, the Middle East’s only international show for the chemical, petrochemical, chemical process technology, corrosion control and management industries, will have a major focus on chemical process technology targeted at the region’s rapidly expanding petrochemical industry.
Organiser, International Expo-Consults (IEC) says the exhibitor profile of the event, that will take place in Dubai in September, reflects the growing importance of the region’s petrochemical sector in the global market.
“Studies suggest 2003 and 2004 saw strong regional growth of between 10 and 15%, with the next peak in the petrochemical cycle arriving in 2005/6,” said Mohammed Falaknaz, Vice President, IEC.
“In the longer term plans have been drawn up for more than 14,800 million tonnes per year of new capacity, to be built by 2010, with Iran accounting for more than one-third of the extra volume.
A major factor in the development of the Middle East petrochemical industry is the low-cost of feedstock. The price of ethane in Saudi Arabia is set at 75 US cents per million Btu (British Thermal Units), which translates to an ethylene production cost of US $100 to US $110 per metric ton. By contrast, making naptha-based ethylene in Asia costs five to six times as much.
“The Middle East is probably the most important influence on the global petrochemical industry today. The region is home to about 10% of global ethylene capacity,” said Falaknaz. “Saudi Arabia alone plans to increase its petrochemicals capacity to 48 million metric tons by 2010 and Iran has set a production goal of 30 million metric tons by 2005.
“Meanwhile, the UAE, Kuwait, Qatar, Oman and Egypt have either completed major petrochemical projects or are planning them.
“The region’s unparalleled production cost advantage, and the willingness of its governments to diversify their oil-based economies, have fostered expotential growth presenting a profitable place to invest.
With a visitor footprint taking in the entire Middle East and North Africa, the Sub Continent and CIS, Chemtex and Corrosion 2004 will be held at the Dubai International Exhibition Centre (DIEC) from September 14-16.
-Ends-
For further information:
Malcolm Ward,
MCS/Action,
PO Box 20970,
Dubai,
United Arab Emirates.
Tel +971 4 3902960;
Fax +971 4 3908161.
Email: malcolm.w@actionprgroup.com
Or visit Chemtex and Corrosion online at: www.chemtexmiddleeast.com
Chemtex and Corrosion 2004, the Middle East’s only international show for the chemical, petrochemical, chemical process technology, corrosion control and management industries, will have a major focus on chemical process technology targeted at the region’s rapidly expanding petrochemical industry.
Organiser, International Expo-Consults (IEC) says the exhibitor profile of the event, that will take place in Dubai in September, reflects the growing importance of the region’s petrochemical sector in the global market.
“Studies suggest 2003 and 2004 saw strong regional growth of between 10 and 15%, with the next peak in the petrochemical cycle arriving in 2005/6,” said Mohammed Falaknaz, Vice President, IEC.
“In the longer term plans have been drawn up for more than 14,800 million tonnes per year of new capacity, to be built by 2010, with Iran accounting for more than one-third of the extra volume.
A major factor in the development of the Middle East petrochemical industry is the low-cost of feedstock. The price of ethane in Saudi Arabia is set at 75 US cents per million Btu (British Thermal Units), which translates to an ethylene production cost of US $100 to US $110 per metric ton. By contrast, making naptha-based ethylene in Asia costs five to six times as much.
“The Middle East is probably the most important influence on the global petrochemical industry today. The region is home to about 10% of global ethylene capacity,” said Falaknaz. “Saudi Arabia alone plans to increase its petrochemicals capacity to 48 million metric tons by 2010 and Iran has set a production goal of 30 million metric tons by 2005.
“Meanwhile, the UAE, Kuwait, Qatar, Oman and Egypt have either completed major petrochemical projects or are planning them.
“The region’s unparalleled production cost advantage, and the willingness of its governments to diversify their oil-based economies, have fostered expotential growth presenting a profitable place to invest.
With a visitor footprint taking in the entire Middle East and North Africa, the Sub Continent and CIS, Chemtex and Corrosion 2004 will be held at the Dubai International Exhibition Centre (DIEC) from September 14-16.
-Ends-
For further information:
Malcolm Ward,
MCS/Action,
PO Box 20970,
Dubai,
United Arab Emirates.
Tel +971 4 3902960;
Fax +971 4 3908161.
Email: malcolm.w@actionprgroup.com
Or visit Chemtex and Corrosion online at: www.chemtexmiddleeast.com
© Press Release 2004
