Middle East Economic Survey

VOL. XLVII

No 35

30-August-2004

KUWAIT

Creation Of PICs Aromatics Company

The creation of the Kuwaiti Aromatics Company (KAC) was announced on 31 July, capitalized at KD30mn ($102mn) divided into 300mn shares. KACs principle owner (99.974%) is Petrochemical Industries Company (PIC), a subsidiary of the state-owned Kuwait Petroleum Corporation (KPC). The remaining shares held by four private investors, Attallah al-Mutairi, Sulaiman al-Dauseri, Ahmad al-Habib and Faysal...