Saudi Arabia forms new committee to spur private sector role in petrochemicals

RIYADH: Saudi Arabia has launched its first-ever national committee for energy and petrochemicals under the Federation of Saudi Chambers to bolster private sector participation. 

This comes as investments in the petrochemical sector are projected to reach $600 billion by 2030, with the council set to collaborate with ministries, authorities, and major companies to unlock opportunities for local and foreign investors. 

This initiative marks a significant step in fostering closer ties between the private sector and government to shape policies and accelerate investment in energy and petrochemicals. 

Jaber bin Ayed Al-Fahad was elected chairman, with Saad bin Ajlan Al-Ajlan as vice chairman.