Saudi Arabia seeks to transform petchem sector into manufacturing industry: Deputy Minister

Osama Al Zamil, Deputy Minister of Industry and Mineral Resources

Osama Al Zamil, Deputy Minister of Industry and Mineral Resources, said that building up a petrochemicals industry won’t depend on the relative advantage of the feedstock prices only.

The petrochemicals industry should comprise qualitative industries, and the sector should turn from basic as well as intermediate to manufacturing industries, Al Zamil told Argaam.

The manufacturing industries give more focus for the markets, technology and capacity building, said Al Zamil, adding that the industry is being supported via making use of as much as hydrocarbons in the manufacturing industries, which are either locally made or sourced from Saudi-owned projects.

Al Zamil also indicated that a large number of “Shareek” program partners are petrochemicals companies, which underpins the industry’s strategic nature and its promising potential.

The ministry is working on the digital transformation of 4,000 factories to reach a mature industry model, which is deemed a top priority. It also works on the industry sustainability on the level of environmental as well as financial terms, as the ministry is correcting the status of those factories in terms of environment and safety measures.

The ministry will then move to the operational excellence level, he added.