Date: 10 May 2000
Time: 13:22:53
Remote Name: 156.29.145.175
05/08/2000 Gulf Daily News Copyright (C) 2000 Dar Akhbar Al Khaleej Press and Publishing House; Source: World Reporter (TM)
TEHRAN: Sabic, the Middle East's biggest petrochemicals producer, yesterday said co-operation with Iranian firms could help the industry in both countries compete globally.
The comments by Sabic vice-chairman and managing director Mohammed Al Mady at a conference in Tehran echoed calls by senior Iranian officials for more regional co-peration.
"We believe Sabic and Iranian producers can work together to mutual benefit, and we look forward to exploring various manufacturing and marketing options," Al Mady told the conference.
"Such co-operative efforts could become increasingly important in a more competitive petrochemical market environment," he said.
Iran , which is aiming to double annual petrochemical capacity to 30 million tonnes by 2005, could benefit from Sabic's sales network in Asia and Europe, he added.
Sabic, in turn, could export feedstock to help start up some Iranian downstream plants until Iran was able to produce its own feedstock, he said.