Petrochemical sales up to USD 6.8 trillion by 2020 – PIC

Kuwait's Petrochemical Industries Company's CEO Mohammad Al-Farhoud and the Kuwaiti delegation to the forum.

Growth in sales operations in the petrochemical field are expected to reach about USD 6.8 trillion around the world by 2020, said Kuwait’s Petrochemical Industries Company.

The GCC petrochemical industries grew prominently in the past years, leading the Gulf states to be among the top exporters in this field around the world, the company’s CEO Mohammad AlFarhoud told KUNA on Wednesday, on the sidelines of Kuwait’s participation in the annual forum of the Gulf Petrochemicals and Chemicals Association (GPCA) held in Dubai.

He noted that the field needs investment in modern technology and innovation in order to boost its performance.

The forum titled “Executing Transformation and Investing in Growth,” will focus on strategies and steps taken by companies to enhance their transformation. It will also shed light on challenges of a changing business environment, cyber security and moving to a circular economy.

Source: KUNA