Air Liquide S.A. is reportedly aiming to increase its total investment in the Gulf region to $1bn from $200m at present, according to Chief Executive Benoit Potier when speaking at the opening ceremony of the French industrial gases group’s regional office for the Middle East.
The world’s largest industrial gas supplier noted that it plans to increase its investments in the Middle East to develop more production capacity closer to the region’s cheaper energy products.
“This region [the Middle East] will be very important,” said Air Liquide CEO Benoit Potier in Dubai recently, according to Bloomberg.
“Energy is cheap and feedstock is available,” Potier said at the opening ceremony of the French industrial gases group’s regional office for the Middle East.
Air Liquide is certainly not alone in its interest in expanding production in the Middle East. Mohamed al-Mady, the CEO of Saudi Basic Industries Corp. (SABIC) told Reuters that petrochemicals producers in the Middle East are among the primary benefactors of the region’s access to low-cost energy, especially in light of an expected demand surge from Asian markets for chemicals.
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