Riyadh, Asharq Al-Awsat- Director of the sector of energy at the Saudi Arabian General Investment Authority (SAGIA) Dr Abdul-Wahab Al-Sadoon has forecasted an increase in the value of investments in the hydro carbonic sectors to SR 354 billion from 2004 to 2009.
Addressing the Forum of "ISF" Petrochemicals, recently held in London, Al-Sadoon expected that the Kingdom of Saudi Arabia would become an international center for petrochemicals industry.
He noted that SAGIA, which is in charge of the investment process in the Kingdom, will go ahead on the path of reforms and development, in coordination with its partners at the private and public sectors.
Currently the production of the industry of the Saudi petrochemicals constitutes about 7 percent of the total world production of the basic and medium petrochemicals.
”Taking into account the growth of the petrochemicals industry in the world, the Kingdom of Saudi Arabia will produce about 13 percent of the world production of petrochemicals by 2009,” he added