Plastics producer to establish major base in Saudi Arabia
By Chen Meiling ( China Daily )Updated: 2017-05-15 08:00:11
Pan-Asia Pet Resin (Guangzhou) is set to construct a chemical fiber production base in Saudi Arabia with an annual output value of $4.8 billion. The base is expected to improve the country's capacity to produce its own plastics and fiber.
"Saudi Arabia mainly imports these products from East Asia, which costs time and freight expenses," said Lin Wencai, vice-president of the company. "When the project is completed, the country may no longer rely on imports, and may even be able to export these products."
As a subsidiary of Singapore-listed enterprise Full Apex (Holdings), whose plastic bottle products make up 20 percent of the domestic market, Pan-Asia Pet Resin has established cooperation with major beverage brands, including Coca-Cola, Pepsi and Watsons.