Gulf states can create jobs by moving downstream into advanced petrochemical technologies and using their deep pockets to buy companies in Europe and the US with valuable intellectual property rights, according to KPMG, the consultants, and the Gulf Petrochemical and Chemical Association.
KPMG argues that for every $1m of investment in a large ethylene cracker, which produces so-called first generation petrochemicals, only one job is typically created. But if the ethylene is converted into styrene, a downstream derivative, and then further into rubber goods, up to 20 jobs may be created per $1m of investment, the consultants say.
KPMG argues that for every $1m of investment in a large ethylene cracker, which produces so-called first generation petrochemicals, only one job is typically created. But if the ethylene is converted into styrene, a downstream derivative, and then further into rubber goods, up to 20 jobs may be created per $1m of investment, the consultants say.
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