Mideast polyethylene production to grow

A new report by Global Markets Direct estimates that polyethylene production capacity in the Middle East will increase by 11.5m tonnes by 2015. The 'Future of the Polyethylene Industry to 2015' report forecasts Saudi Arabia will add more than 4m tonnes of capacity by 2015, while Iran will add in excess of 5m tonnes. Qatar will add 2m tonnes of new capacity. 'Feedstock cost advantages and the need to diversify the region's export basket from crude oil and natural gas are the main drivers of large capacity additions in the region,' the report said.