GOIC & Al Nadeem sign an agreement to design a reference petrochemicals database in GCC

The agreement contains building a model reference database for petrochemicals for GCC region; after GOIC has finished its initial design.

This agreement comes within GOIC's mandate to foster industrial growth in general and petrochemicals industry in particular by means of providing the essence of its accumulated experience; its efficient IT infrastructure; and its specialized databases further to its network of relationships which has been built through its long years of work. According to this agreement, GOIC in cooperation with Al Nadeem Information Technology will design a reference database for petrochemicals in the region. By this project, GOIC targets assuring data flow, and presenting it to decision-makers, experts, investors, trading companies, and Media.

On its turn, this DB will provide important data on the current status of this industry and the related future projects; foreign trade; technology providers; experts; investment opportunities prepared by GOIC; and other related data.

Al Nadeem IT will design the model for this database on a sample of the data available at GOIC, by means of deploying business intelligence and advanced analytical solutions from Microsoft. The agreement states that GOIC and Al Nadeem build a database for the parties who use it. GOIC handles the management issues and data update periodically against having the benefiting end-user financing the project as the latter will be the actual owner of the database and has all related rights of property.

The average growth rate of Gulf investments in petrochemicals and chemicals industry between 2000 - 2006 was about 5%; as it increased from US D 52 billion to some US D 70 billion, constituting as such 59% of the total Gulf investments in processing industries which is US D 118.3 billions. On the other hand, the number of workmen in this sector reached some 163,134 labor in 2006, upon the increase since 2000 when the number was 122,735, i.e. a growth rate of 4.9% during the designated period.

GOIC has performed an in-depth field study during the second part of 2006 covered 25 of the specialized databases in petrochemicals available at global level. The study noticed that, in spite of the relative merit which GCC enjoys in petrochemicals industry, yet the results of this study assured the absence of local and Gulf resources relating to this vital sector, and that most of the used resources in this sector are imported from outside the region.

Al Nadeem is one of the pioneering Gulf companies in information technology and communications. Al Nadeem was established in the Kingdom of Bahrain in 1995, and started its activities in the field of web development on internet and E-Commerce. Al Nadeem is a certified golf partner with Microsoft. It opened a branch in Qatar in 2007, and considered amongst the quickly growing companies in the region, and it is expected to double up its operations within the coming three years.