MUSCAT: The 4th International Plastics, Rubber, Petrochemicals, Printing and Packaging Industry Exhibition 2017 – 4th Oman Plast 2017, kicked off on Tuesday at Oman Convention and Exhibition Centre under the auspices of Hilal bin Hamad al Hasani, Chief Executive Officer of the Public Establishment for Industrial Estates (PEIE). Al Hasani noted that Oman’s industry is growing and the country offers an excellent and attractive environment for investment. He said “The exhibition highlights participations from foreign companies which are specialised in manufacturing various equipment and products that are not available locally”.
Adding that the plastic industry in the Sultanate is a promising one. “A rapid growth is witnessed in the localisation of plastic industry’s projects, which will eventually boost the growth and expansion of this industry through expansion of the existing projects or establishment of new projects. The ongoing government support to this sector consequently contributes to the country’s economic and social development” he pointed out.
Organised by Silver Star Corporation, the 4th edition of Oman Plast 2017 showcases the latest technology and machineries used in manufacturing of plastics, rubber, petrochemicals, printing and packaging. The event presents an ideal platform for Oman and its neighbouring countries to source new technology and products through this knowledge forum. As the petrochemical industry is one of the main components of the Omani economy, the event will give a great impetus to further diversify its growth.
The plastics industry per sector has seen sustained growth levels in the region as Middle East and African markets are expected to deliver noteworthy gains right up to 2018. An annual growth rate of around 30 per cent has been projected. This region is emerging as a leading global plastic production resin hub with capacities expected to double in the coming years.
The polyethylene production capacities in the Gulf region will increase from 10.7 million ton in 2009 to 21.5 million tons by the year 2018, an increase of slightly over 100 per cent. Likewise, the production capacities of polypropylene will increase from 4.8 million ton in 2009 to 9.5 million by year 2018, an Increase of 98 per cent.
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