Low Plastics Prices to Boost Saudi Exports

JEDDAH - The fall in plastic prices in the Kingdom by 50 per cent following the global economic crisis and steep slide in oil prices is said to be good for the Saudi manufacturers.

Read more...

By Our Correspondent

Published: Sun 22 Mar 2009, 12:38 AM

Last updated: Sun 5 Apr 2015, 9:43 PM

According to Saudi market experts the falling level of prices would prompt the Saudi industry to play a larger role in foreign markets as a number of plastic companies in the United States, Europe and China have been closed for lack of funding from banks. They said that last year the exports had registered a 40 per cent increase. There are 759 plastic factories in the Kingdom with a total investment of SR136 billion employing 78,600 people.

Experts say that the local industry is affected by the world crisis only in a limited manner. They believe that the situation may lead to the factory owners to form alliances and mergers in a bid to become strong corporate entities.

Our Correspondent

Published: Sun 22 Mar 2009, 12:38 AM

Last updated: Sun 5 Apr 2015, 9:43 PM

Recommended for you