BUSINESS REPORTER -
MUSCAT, MARCH 21 -
The fourth edition of Oman Plast 2017 got off to a good start on Tuesday with participation by a large number of manufacturers in the plastic industry.
Hilal Bin Hamad Al Hasani, Chief Executive Officer of the Public Establishment for Industrial Estates (PEIE) inaugurated the three-day exhibition being held at Oman Convention & Exhibition Centre.
The latest technology and machineries used in manufacturing of plastics, rubber, petrochemicals, printing and packaging are showcased at the exhibition.
Al Hasani along with other officials, diplomats, businessmen and visitors went around the stalls at the exhibition centre to have on-the-spot information about the products and technology used in the industry.
P D Nath, Managing Director, Silver Star Corporation, which is organizing the exhibition said, the fourth edition of Oman Plast 2017 is perfectly timed for the continuing boom in Oman’s plastics, rubber, packaging and petrochemical industry.
“This event offers a perfect gateway to reach this highly potential market and will provide excellent business opportunities and new collaborations”, he said.
The plastics industry per sector has seen sustained growth levels in the region as Middle East and African markets are expected to deliver noteworthy gains right up to 2018. An annual growth rate of around 30 per cent has been projected.
This region is emerging as a leading global plastic production resin hub with capacities expected to double in the coming years.
The polyethylene production capacities in the Gulf region will increase from 10.7 million ton in 2009 to 21.5 million tons by the year 2018, an increase of slightly over 100 per cent. Likewise, the production capacities of polypropylene will increase from 4.8 million ton in 2009 to 9.5 million by year 2018, an Increase of 98 per cent.
The Middle East remains the largest source of plastic raw materials; upto 16 per cent of the region’s abundant petroleum supply that is not used for energy production is converted into other materials such as plastic products. While sustaining growth in the plastic industry is of prime importance, Oman has made sure they maintain a green outlook.
The world produces and uses 20 times more plastic today than it did 50 years ago. Ordinary plastics can take up to 400 years to break doom. Given plastic is a fundamental part of our day-to-day lives, Oman also made sure that it has earth-friendly product like degradable plastic.
The exhibition is open from 10 am to 6 pm on all three days. The exhibition is exclusively for traders and businessmen. Entry for children below 15 years are not allowed.
The participating countries are China, India, Italy, Oman, Qatar, Saudi Arabia, Taiwan, UAE and USA etc.
The exhibition sponsors are Future Plastics LLC — Platinum Sponsor, Orpic — Gold Sponsor, Octal SAOC FZC — Silver Sponsor, United Gulf Pipe Manufacturing Company LLC and Femco — Bronze Sponsors.
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