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Dr. David Rutledge, Chief Executive Officer, DMCC, said:
"As a major producer and exporter of petrochemicals and plastics, the Middle East offers the most cost-effective feedstock for petrochemical companies. In addition to a strategic location between the African, European, Middle East and Asia-Pacific markets, the bunkering facilities around Dubai prove to be an attractive value proposition for energy companies to establish their base here. We are pleased to welcome these prominent petrochemical companies to Dubai and DMCC."
James Bernard, Associate Director - Commodities, DMCC said, "According to recent market studies, Middle East plastic feedstock exports are expected to increase from 4.3 million tonnes in 2008 to 11.7 million tonnes in 2013, an increase of nearly 172%. Such encouraging figures highlight the immense opportunities in the region for plastics and petrochemical companies."
"The DMCC free zone continues to witness considerable interest from global energy-related industries, wishing to exploit these facilities and target regional partnership opportunities to further grow their market share. Companies like PTT, Titan and SCG Plastics find it very reassuring to be in an established and well regulated environment situated in the industrial hub," Bernard added.
PTT Polymer Marketing DMCC is fully owned by PTT Polymers whose parent company is the PTT Group, Thailand's national oil company and a leading petroleum trading company in Southeast Asia. The company will focus mainly on the Polymer business which is increasing rapidly within the region.
This will be the second PTT company to be established in the DMCC Free zone with PTTT DMCC being the first. PTTT is involved with petroleum trading, mainly within East Africa and the Middle East. PTT Group is using its strategic base in Dubai to facilitate the supply of crude, refined products and petrochemicals to Southeast Asia, primarily Malaysia, the Philippines, Singapore, Vietnam and Thailand.
TITAN International Corp DMCC is fully owned by Titan Chemicals Corp. Bhd., Malaysia's first and largest integrated producer of olefins and polyolefins, and one of the largest producers of polyolefins in South-East Asia.
SCG Plastics DMCC is the marketing arm for polyethylene and polypropylene products for SCG Chemicals, which manufactures and supplies a full range of upstream and downstream petrochemical products. SCG Chemicals is one of the largest integrated petrochemical companies in Thailand and a key industry leader in the Asia-Pacific region.
The DMCC offers resident companies highly attractive benefits, including a 50-year guaranteed tax holiday, 100% business ownership, and full ownership of business premises under a free zone status. The DMCC energy division currently has well over 100 member companies, involved with a huge range of products such as oil, gas, petrochemicals and plastics.
Posted by Rana Mesbah
