Riyadh-Mubasher: Saudi Arabia's downstream investments have four key competitive advantages, said Ziad Al-Labban, CEO of Sadara Chemical.
He told the Saudi Downstream Forum 2016 held from 8-10 March that the advantages are abundant natural resources, skilled human capital, proximity to growth markets and access to finances.
“Sadara’s range of differentiated, high-value products, enabled by the cracking of naphtha as well as ethane, makes us a true game changer," said Al-Labban.
"By capitalizing on Saudi Arabia’s unique competitive advantages, Sadara is positioned to become a key enabler for downstream investments and value added job opportunities for Saudis, which in turn will accelerate the Kingdom’s economic diversification, and create a nurturing environment for ’Made in KSA‘ to truly take shape,” he noted.
In addition to its vast natural resources, which include 20% of the world’s proven oil reserves and the 6th largest proven natural gas reserves, Saudi Arabia also offers competitive corporate taxes, a range of funding sources, sukuk market, the largest stock exchange in the MENA region, and a large number of locally-based companies and investors.
Currently at 98% complete, the 6-square-kilometer mega-complex started producing the first of its specialty products - Solution Polyethylene – in December 2015, the first plant of its kind in the Middle East.
The rest of the units are now going through a phased start up and commissioning process and are expected to be fully operational in 2017.
