PIC to sign con­tracts on olefins and aro­mat­ics in 2017: Of­fi­cial

Kuwait Times - - LOCAL -

The con­tracts of engi­neer­ing stud­ies on the olefins and aro­mat­ics projects will be signed in the first quar­ter of 2017, Hus­niya Hashem, deputy CEO of olefins and aro­mat­ics at Petro­chem­i­cal In­dus­tries Com­pany (PIC), said yes­ter­day.

It is ex­pected that the in­te­grated project at Al-Zour Re­fin­ery Project will be fi­nal­ized in the se­cond quar­ter of 2022, Hashem added in a state­ment on the side­lines of the 11th Fo­rum of Gulf Petro­chem­i­cals and Chem­i­cals As­so­ci­a­tion (GPCA) cur­rently held in Dubai.

She noted that the re­fin­ery project will pro­duce its out­put in the same pe­riod. The PIC will carry out new projects dur­ing 2017 and con­sider im­ple­ment­ing some in­vest­ment op­por­tu­ni­ties in the petro­chem­i­cals area in Asia and North Amer­ica, she re­vealed.

She pointed out that the ca­pac­ity of propy­lene pro­duc­tion fac­tory, es­tab­lished in co­op­er­a­tion among Korea’s SK Gas Com­pany, Saudi Ad­vanced Petroleum Com­pany (APCO), and Kuwait’s PIC, reached 105 per­cent of its de­signed ca­pac­ity reach­ing 600,000 tons ev­ery year. OIC owns 25 per­cent of this fac­tory and it con­sid­ers car­ry­ing out a polypropy­lene pro­duc­tion plant in South Korea, she af­firmed.

The ethy­lene gly­col plant es­tab­lished in the US State of Texas is ex­pected to start its ac­tual pro­duc­tion in the se­cond half of 2019, with a ca­pac­ity of 750,000 met­ric tons, she said. Hashem stressed the im­por­tance of PIC’s par­tic­i­pa­tion in GPCA form which helps par­tic­i­pants get ac­quainted with the lat­est de­vel­op­ments in the fu­ture in­dus­try of petro­chem­i­cals. PIC is a sub­sidiary of the Kuwait Petroleum Cor­po­ra­tion (KPC) and a petro­chem­i­cal in­dus­try leader in Kuwait and through­out the Mid­dle East. —KUNA

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