MOSCOW (MRC) -- Kuwait’s Equate Petrochemical Company President and CEO Mohammad Hussain said a project aimed at increasing polyethylene (PE) production would be completed in the first half of next year, as per GV.
The first phase of this project regarding production of ethylene would end this year, while the second phase, the polyethylene plant, would be completed next year, he said. Hussain, answering a KUNA question in a news conference on fringes of the 10th session of the forum of the Gulf Petrochemicals and Chemicals Association (GPCA), said this project would contribute to boosting polyethylene production from 825,000 tons to a million tons.
Asked about the petrochemicals industries in the Gulf region, Hussain said the Arab Gulf countries have huge potentials and were capable of maintaining this edge regardless of turmoil affecting regional economies. He did not expect the Gulf countries to slow down their petrochemicals industries. Hussain said Equate depended on its marketing capability coupled with availability of crude materials in North America. He said Equate human resources were its most successful capability.
Hussain underlined importance of the Chinese market, which has an average growth of 5-7 %. He said Kuwait should have a comprehensive national vision to develop the petrochemical sector and noted that global economic slowdown should not mean the stop of development and growth in the petrochemical sector because of the high importance of the manufacturing industries.
As MRC informed previously, in late 2014 - early 2015, Equate successfully entered its final stage of the turnaround’s operations relevant to a number of industrial units for ethylene, polyethylene and ethylene glycol.
Established in 1995, EQUATE Petrochemical Company is an international joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is the single operator of a fully integrated world-scale manufacturing facility producing over 5 million tons annually of high-quality petrochemical products which are marketed throughout the Middle East, Asia, Africa and Europe.