The buoyant outlook for the Arabian Gulf polymer industry, which is projected to grow 6 per cent annually over the next five years, is attracting innovative products to the region, such as a resealable plastic can for fizzy drinks.
The region’s polymer industry is set to produce 33.8 million tonnes per year by 2019 after it reached 25.5 million tonnes last year, according to the Dubai-based non-profit Gulf Petrochemicals and Chemicals Association.
Output from the plastic processing industry has grown 8 per cent since 2008, and last year reached US$9.9 billion. This growth has been spurred by low-cost production, logistics and proximity to export markets.
The Gulf region, with a young and expanding population, is attractive to the plastics industry, according to the Manchester-based consultancy Prea, which has been marketing a “revolutionary” plastic can for soft drinks at the Arabplast event in Dubai.
“Imagine a Coca-Cola can – you open it, you drink it. You are committed to drink that straight away. With this new revolutionary plastic can, where it slides open you can see what you are drinking and, after you had a drink, you can close it again,” said Pravin Mistry, the chief executive of Prea.
“The advantage is it’s fully recyclable. It is cheaper to make than the current can in terms of [the] processing side.”
Prea is trying to attract private investors and manufacturers to help produce this product on a large scale for the first time. The firm has manufactured prototypes that have been tested and is ready to provide technology, machinery and patents to potential investors.
“We are aiming at the Gulf because plastics raw materials are in abundant supply, and one of them is Pet [polyethylene terephthalate],” said Mr Mistry.
Borouge, a joint venture between Abu Dhabi National Oil Company (Adnoc) and Austria's Borealis, has been producing polyethylene since 2001, and the firm was set to reach an annual production capacity of 4.5 million tonnes next year.
Prea said it was also in discussions with Saudi Arabia’s Sadara Chemical – a $19.3bn joint venture between the state-run energy firm Saudi Aramco and the US firm Dow Chemicals – that will produce products new to the region.
Prea is discussing opportunities to bring technology and investors to Saudi Arabia, which is seeking to develop a downstream industry through projects such as Sadara.
The Sadara project, which will produce 3 million tonnes of petrochemicals a year, is the world’s largest facility of its kind to be built in a single phase, and will focus on creating downstream industries in Saudi Arabia aimed at creating jobs and diversifying income away from oil.
In 2012, the Middle East and Africa accounted for 7.2 per cent of the 288 million tonnes of global production, plasticseurope data show.
dalsaadi@thenational.ae
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
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The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The years Ramadan fell in May
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions