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.