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Saudi petrochem sector forecast to rise in 2012

18 March 2012

NCB Capital has said the Saudi petrochemical industry will continue to grow in 2012, though at a slower pace, Saudi Gazette has reported. Despite the anticipated weakness in demand and prices of petrochemicals, the sector's earnings are expected to be supported by the full year contribution from Saudi Kayan and Sahara's Al Waha plants, as well as the prevailing feedstock advantage, the wealth manager said. "In our opinion, a strong rebound in demand in the near term is unlikely given the ongoing debt concerns in Europe and the slowdown in China's GDP growth," said Tariq Al-Alaiwat, equity research analyst at NCB Capital.

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