Saudi Aramco Plans to Invest USD334 billion Over Next 10 years

Saudi Arabia: Saudi Aramco, a Saudi Arabia based company engaged in the production, refining, distribution, shipping, and marketing of crude oil, natural gas liquids and petrochemical products. Saudi Aramco has announced its plan to spend USD334 billion by 2025. The expenditure would focus on infrastructure development as well as capacity expansion of the company. The company has outlined a plan termed as In-Kingdom Total Value Add (IKVITA), which plans to double the percentage of domestically produced energy related goods and services to around 70% of its total expenditure by 2021.

TechSci Research depicts that the investment decision would aid Saudi Aramco in increasing its brand popularity and customer reach. Increased market penetration would help the company in catering to the needs of their customer in efficient manner.

 According to the recently published report by TechSci Research, “Global Ethylene Market By End Use (Polyethylene (PE), Ethylene Oxide, Ethylene Dichloride (EDC) & Others), By Region (Asia-Pacific, North America, Middle East & Africa, Europe and South America), Competition Forecast and Opportunities, 2011 - 2025”, the  the global ethylene market is expected to grow at a CAGR of around 11.26% during 2016-2025, on the back of growing demands for flexible packaging materials, disposable items and expanding real estate & construction sector, globally. Increasing awareness among people about package labelling and its advantages, along with production of light weight automobiles and expanding infrastructure sector in developing countries is expected to result in augmented demand for ethylene and its derivatives. Additionally, lifting of sanctions on Iran and its entry to the global market with abundant crude oil reserves and low cost feedstock availability in conjugation with discovery of shale gas reserves in North America, is expected to lead to higher production capacity of ethylene, globally.