GCC plastics and machinery industries remain robust despite financial slow down

Dubai: Investments in plastics and tube industries are on the upswing defying the global financial crisis, as investors shift their sights to industrial investments that are safer and more promising.

This scenario was highlighted at a press conference to announce the opening of Arabplast and Tekno/Tube Arabia 2009 exhibitions, which will be held from 10th to 13th January 2009 at Dubai International Exhibition Center.

Addressing the media, Satish Khanna, General Manager of Al Fajer Information & Services, co-organizer of both exhibitions, underscored the significance of the plastics sector, which attracted $5 billion investments last year in GCC with over 1,253 industrial units operating in the Gulf.

Khanna said: "Plastics industry now accounts for 10.6 per cent of the total manufacturing in GCC, of which 4 per cent investment is plastics and petrochemicals and this sector employs over 9 per cent of the total work force in the GCC."

The region's leading international exhibitions on plastic, rubber, industrial machines, metal works, tubes and pipes are once again geared to host some of the biggest players.

Khanna added: "GCC plastics industry grew fivefold in 1995-2007. In 1990 there were only 326 plastics manufacturers with an investment of $932 million and workforce strength of 17,500. The designated capacity of GCC in plastic production was 2.3 million tons last year where it was 0.50 million ton in 1990."

Both exhibitions will feature the latest technology while simultaneously offering an interactive platform for key industry players. The rich source of raw materials such as petrochemicals and a demand projection of double-digit growth in plastic rubber and tubes sectors in this region, will significantly contribute to the growth of both exhibitions.