Saudi Arabia is among the most competitive locations when it comes to land lease, utilities rates, and manpower costs. Other key enablers to make business profitable include:

• Availability of wide range of commodity resins as well as the planned production of differentiated resins including: speciality polymers (e.g. Bimodal HDPE, PP copolymers), performance polymers (e.g. engineering plastics, elastomers).
• Well-developed infrastructure with excellent road networks, planned railway networks, and world-class port facilities.
• Fiscal Incentives (soft financing, credit support, exemption from custom duties for machinery & raw materials not available in the country).

To leverage these advantages, PetroBaas has formulated a strategy to invest in advanced plastic conversion industries to manufacture:

• High value-added processed plastic products.
• Densely-packed export oriented plastic products (in finished and semi-finished forms).

Within these domains, PetroBaas is currently exploring set of investment opportunities at different level of development. Our first plastics processing operations, a JV with a Korean based firm boasting over 25 years of experience in plastic conversion and plastic machinery manufacturing, will be on stream by Mid 2009.