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