GCC countries expected to invest US$120 bln over next five years in chemicals and petrochemicals

22-Jan-08

GCC countries are expected to invest US$120 billion in chemicals and petrochemicals during the next five years, as per a recent report by the Gulf Organization for Industrial Consulting (GOIC). The development in petrochemicals will lead to the growth of energy-intensive and export-oriented industries such as complementary industries and processing industries. In 2006, GCC investments in the sector were pegged at approximately US$70 bln.