Saudi Arabia's petrochemical industry diversifies to face challenges

Increased competition has created some long-term challenges for Saudi Arabia's petrochemicals industry.In the face of increased production costs, shifting world trade patterns, and a fall in petrochemical prices, the petrochemical industry of Saudi Arabia has adopted a strategic plan to maintain and increase its competitiveness.This plan includes increasing its production capacity, diversifying its product mix, increasing its involvement in joint ventures, heightening emphasis on research and development (R&D), allowing a larger role for the private sector, and diversifying its petrochemical products further downstream.The future of Saudi Arabia's petrochemicals industry is bright...

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