Thursday, December 13, 2007

Petrochem project delays and cancellations estimated in the Gulf due to sur...

Gulf Petrochemicals and Chemicals Association (GPCA) has warned that construction cost bubble in the Middle East region would lead to some project delays and cancellations, as the surge in petrochemicals exports from the Gulf is projected at more than 50 million tons by 2008. Expressing concern over the construction cost the region is currently experiencing, GPCA Chairman said it makes it difficult to achieve acceptable financial targets when capital costs have risen so much.

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