OUTLOOK FOR THE PAPER INDUSTRY IN THE GCC

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OUTLOOK FOR THE PAPER INDUSTRY IN THE GCC Powered By Docstoc
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By SHAIKH 
				
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Description: The Gulf Cooperation Council (GCC), which includes the Kingdom of Saudi Arabia, United Arab Emirates, The State of Kuwait, The State of Qatar, Sultanate of Oman & Kingdom of Bahrain celebrated its 25th Anniversary in 2006. Long known for its oil wealth, as an industry, paper stands nowhere near the limelight. But, the GCC region is set to bloom big-time in this segment too as supplier. Reliable estimates suggest that paper manufacturing in the GCC has grown by 8% during 2001-2011 whereas GCC overall growth reached 49%. The strength of GCC public finances will return as a theme in 2010-2011 as they project that oil prices will hold on to recent gains to average $75/bbl, boosting fiscal and current account surpluses, and adding to the region's large external assets. United Carton Industries is one of the largest corrugators in the region having two plants in the city of Jeddah, Saudi Arabia; recently, UCIC took over Al-Babtian Industries, Riyadh, meaning that it has added capacity of 40,000 tones/yr.
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