1997 News Story

Finance minister comments on future of petrochemicals

Minister of Finance and National Economy Dr. Ibrahim Al-Assaf has affirmed that in the foreseeable future the Kingdom of Saudi Arabia will naturally concentrate on the manufacture of high-value advanced products such as plastics, which enjoy the relative advantage of the presence of considerable reserves of raw materials, and disclosed that there will be a large-scale expansion of the petrochemical industry in terms of production, operations, processing, and related facilities.   He added, however, that there is also a noticeable development in the manufacturing sector, with a 20 percent increase in the export of non-petroleum products recorded in 1996.