The reason why: the oil-exporting countries spent their newly-won petrodollars preferably on German quality hardware.
According to internal figures compiled by the Association of German Machinery and Technical Plant Manufacturers (VDMA), the demand from the OPEC countries for German capital goods has risen by 20.7 per cent in the first six months of this year.
Ralph Wiechers, the Chief Economist of VDMA, told AME Info: 'We have indeed very nice orders coming in from the OPEC countries for quite a time now. For example, the volume of orders from Saudi Arabia rose by 59.4 per cent in the first half of 2005; Iran booked additional 46 per cent of German hardware in the same period, Egypt 47.4 and Libya 53.2 per cent.'
A case in point is Linde AG: In July, SABIC awarded the engineering giant contracts for the supply and construction of two large polyethylene plants in Al Jubail worth some EUR500 million.
The plants will have an annual production capacity of 800,000 tons of polyethylene and are scheduled to start operation in early 2008. Polyethylene is one of the most important compound plastics, with rapidly growing demand, especially in China and India.
In a similar vain, the Berlin-based cooling plant specialist GEA GmbH very recently pocketed orders in Saudi-Arabia totalling EUR230 million.
Petrochemical plant, bottling facilities, steel mills: 'Made in Germany' is in great demand in the Middle East these days.
Browse
related articles
Oil price rise triggers off German export boom
- Germany: Wednesday, September 07 - 2005 at 15:24
Not all German industrialists are moaning about the rocketing oil price. A large part of Germany's machinery and technical plant manufacturers actually benefit remarkably from this development.
Related stories
Twitter
Facebook
LinkedIn
Digg
Browse
related articles
Today's most read articles:
- » Nakheel commences handover of Marina Residences
- » Alba appoints new Chief Executive
- » Alcatel-Lucent shares four critical determinants for FTTx implementation at FTTH Middle East Conference
- » World tallest hotel, the Rose Rayhaan by Rotana, to open in Dubai
- » Iran-UAE gas dispute to go to arbitration
Wolfram BielensteinWednesday, September 07 - 2005 at 15:24 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
It looks like you are using a Mac - check out our 
Web Feeds