“Industry” solves the challenge of abundance and competitiveness of petrochemical raw materials for manufacturing plants above 100,000 tons

The Ministry of Industry and Mineral Resources has processed more than 60 requests for the abundance and competitiveness of petrochemical raw materials for downstream plants in the Kingdom of Saudi Arabia through the digital platform “Petrochemical Raw Materials Abundance and Competitiveness”. Jarrah bin Mohammed Al-Jarrah, the official spokesperson of the Ministry, explained that the platform is part of the Ministry’s efforts to strengthen the integration of the local petrochemical supply chain. The platform is aimed at investors in the Saudi specialized and transformative petrochemical industry and helps supply. Plants in the industry face challenges brought about by the abundance of local raw materials. Through the cooperation of the company with relevant government agencies, more than 100,000 tons of petrochemical raw materials have been provided to these plants. It also works to address challenges related to the competitiveness of petrochemical raw materials due to changes in local prices.

He stressed that efforts are continuing to find solutions to existing requirements related to the abundance and competitiveness of raw materials, and that cooperation is being carried out with transformative and foundational companies and relevant government agencies to ensure the abundance and competitiveness of petrochemical raw materials in order to strengthen the petrochemical raw materials chain that supplies local plants.

The Ministry of Industry and Mines launched the Petrochemical Raw Materials Abundance and Competitiveness Platform in mid-2023. The platform aims to empower and develop the manufacturing industry and has established official channels for more than 2,500 manufacturing plants in more than 40 industrial zones in Saudi Arabia to solve the problem of petrochemical raw materials abundance and competitiveness.

The digital platform operates under the leadership of the Petrochemical Supply Chain Integration Committee with the following objectives: to combine the abundance of petrochemical raw materials with the needs of the manufacturing and specialised chemical industrial sectors, as it has already in its first year promoted improvements in plant efficiency and growth in industrial sector output, which has made a positive contribution to increasing local content and boosting exports.