An unprecedented wave of new olefins capacity is on the brink of starting-up in the Middle East.An additional 20 MMT of new ethylene capacity is expected by 2012,more than doubling current capacity in this region.2008 is a pivotal year: nine million tons capacity will start up in the next twelve months alone,sending global operating rates plunging towards bottom of cycle conditions in 2009.With the exception of Iran,projects are on or ahead of schedule.It is not just an ethylene play.The Middle East and Africa will build 8.6 MMT new propylene capacity,accounting for 38% of global capacity addition in the 2007-12 timeframe.
展开▼
