Kuwait, Bahrain to Build Joint Aromatics Plant

Source: KUNA 10/30/2016, Location: Middle East

Kuwait’s Petrochemical Industries Company (PIC) inked a deal with Bahrain’s National Oil and Gas Authority (NOGA) to build a joint aromatics factory in the Kingdom with an annual production capacity of 1,44 tons.

The deal was made during a meeting held earlier between visiting Bahraini Oil Minister, Sheikh Mohammad bin Khalifa Al-Khalifa, and Kuwaiti Acting Deputy Prime Minister and Minister of Finance and Minister of Oil, Anas Al-Saleh, Mohammad Al-Farhoud, IPC's Chief Executive Officer and Board member of Directors, stated to KUNA.

The agreement, which is based on the two countries' partnership, includes secondary products, Al-Farhoud noted, adding that details regarding that matter are to be discussed between the two sides later.

It is the second partnership in petrochemicals between Kuwait and Bahrain following a previous successful one with Gulf Petrochemical Industries Company (BSC), in which the Kuwaiti company owns around 33.3 percent, he noted.


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