Saudi Arabia is planning to leverage its massive petrochemical exports to support domestic downstream industries within its economic diversification programmes.

A successful pilot project carried out in cooperation with the Ministry of Energy led to a domestic demand surge of more than 300,000 tonnes for one product, with more items expected to be added in the future.

“Efforts are underway to channel part of Saudi Arabia’s petrochemical exports into local downstream industries,” Minister of Industry and Mineral Resources Bandar Al-Khorayef said, quoted by the local press.

“This initiative will bolster downstream industries and strengthen their contribution to the national economy,” he added.

On pharmaceuticals, the minister pointed to a clear plan that has significantly increased the number of local factories.

The Kingdom has succeeded in localising the production of sensitive medical products such as insulin and is currently advancing projects in vaccines and biologics, he said.

Al-Khorayef also highlighted Saudi Arabia’s growing focus on advanced technology industries, including electronics and microchips.

He cited partnerships with private-sector firms such as Alat and cooperation with the Ministry of Communications to promote information technology within this advanced industrial push.

“Saudi Arabia has a strong infrastructure…its ports, roads, and railways reflect political and financial stability and enhance competitiveness in the energy sector, a critical component of industrial zones,” he said.

“This combination of resources, location, and infrastructure makes Saudi Arabia a key partner and an essential hub in global industries.”

(Writing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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