The digital platform of the Ministry of Industry and Mineral Resources has helped Saudi Arabia’s petrochemical industry by supplying local firms with over 100,000 tonnes of raw materials.
The “Availability and Competitiveness of Petrochemical Raw Materials” platform was introduced in the middle of 2023 with the goal of addressing concerns with pricing discrepancies and the excess of locally available raw materials.
The program handled more than 60 requests from nearby manufacturers in its first year of operation, enabling vital collaboration between basic and conversion companies and government organizations. This initiative is a component of the ministry’s larger plan to raise the effectiveness and integration of regional petrochemical supply chains.
The ministry’s spokesperson, Jarrah bin Mohammed Al-Jarrah, claims that the tool’s success can be traced to the efficient collaboration between its many partners.
He underlined that issues with the competitiveness of petrochemical raw materials—which had previously been hampered by regional price fluctuations—have been greatly mitigated by the system.
More than 2,500 factories in more than 40 industrial zones already have formal channels thanks to the platform, greatly enhancing supply chain and operational efficiency. It has improved factory productivity and industrial sector output by optimizing the supply of petrochemical raw materials, which has a beneficial impact on local content and increased exports.
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