Mideast: Capacity Build Continues

The Mideast will remain the focal point for petrochemical start-ups this year and market strength should continue for the near-term, industry players say. Stable oil prices, and strong growth in China, India, Brazil and the Mideast have supported recovery, leading to enormous potential for Mideast export opportunities. The Gulf industry is expected to add about 46% to current capacity by 2015 with an estimated investment of $50 billion, GCC officials say. The Mideast share of petrochemical and chemical production is expected to 20% in 2015, up from 16% in 2009,...

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