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Kuwait-Sino Petrochemical Project Contract

Source: KUNA 10/10/2011, Location: Asia

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The agreement of the mega Kuwait-Sino petrochemical project will be signed mid 2012, the Kuwait Petrochemical Industries Company (PIC)-assigned Managing Director of the project Hadi Abul announced. In an interview published in the PIC bulletin, Abul said the project would start production with the advent of 2015. The petrochemical complex is a part of an ambitious USD 9 billion-joint venture with China Petroleum and Chemical Corporation (Sinopec). The ambition plan also includes a refinery that would help take Kuwait's oil exports to China up to over 500,000 barrel per day.

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