Kuwait to Invest $8b in Petrochemicals

Kuwait to Invest $8b in Petrochemicals

Kuwait’s Petrochemicals Industries Company (PIC) is planning to invest $8b into petrochemical projects in Bahrain and other countries over the next five years, PIC’s CEO, Mohammed Al-Farhoud, said, according to Argaam.

One of the projects includes a paraxylene plant in Bahrain with a production capacity of 1,400 ton/y. The plant will be jointly owned by PIC and the state-run National Oil and Gas Authority of Bahrain, Al-Farhoud added. Another project aims to establish an ethylene glycol plant in the US with a production capacity of 750,000 tons/y, he said.

In addition, PIC is planning to start a joint venture with a Canadian firm to build a propylene and polypropylene plant with a capacity of 550,000 tons/y, Zawya informed.

PIC is also studying the possibility of building polypropylene plant in South Korea with a capacity of 400,000 tons/y.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.


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