(MENAFN) Fertilizer production capacity in the GCC region reached 42.3mn tons per annum this year, growing by 12 percent over the last year.
Accordingly, the industry expanded at the highest growth rate year on year since 2011, and outpaced overall annual growth of 8 percent per annum over the past decade.
Last year, the GCC fertilizer industry produced USD5.2bn in sales revenue, with plans to invest USD8bn in new projects over the coming years.
By 2025, regional capacity is projected to reach 49.8mn tons, growing at a steady rate of 2 percent per annum.
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