By Majed Al-Shabib
Riyadh-Mubasher: Saudi Arabia’s giant petrochemical producer SABIC does not face any anti-dumping cases currently as India cancelled probe on SABIC’s case last week, said CEO Yousef Al-Benyan.
He told Mubasher that it is difficult to determine the financial impact from cancelling investigations due to the small size of the exported Ethylhexanol-2 product.
Competent authorities seek to avoid the occurrence of such cases in the future, Al-Benyan said.
SABIC’s local purchases reach SAR 12 billion annually, representing 40% of total purchases, the CEO said, noting that the company seeks to raise this percentage to 70%.
Al-Benyan also said the number of local manufacturers increased to 500 from 85.
In November 2014, India launched investigations into its imports of Ethylhexanol-2 products from Saudi Arabia, European Union, Indonesia, South Korea, Malaysia, Chinese Taipei and US.
Translated by Abdul Maguid Aboshahla
