The move comes as the country intends to reduce its reliance on its oil-based economy by diversifying the business interest to various other sectors.
Arab News? cited Riyadh Exhibition Company as saying that lucrative business opportunities have been created by the country in its plastic and petrochemical industries to sustain the expansion project.
Riyadh Exhibition Company is the organizer of the 12th international plastics and petrochemicals trade fair, known as Saudi Plastics and Petrochem, scheduled in Jeddah.
By 2015, the country intends to achieve petrochemicals production capacity of over 100 million tons annually.
The Saudi Plastics and Petrochem event is scheduled to be held from 1 to 3 March 2015 at the Jeddah Center for Forums and Events.
Saudi Arabia is the only Gulf Cooperation Council (GCC) state to allow private investment in the petrochemical sector.
