VOL. XLIV

No. 08

19-February-2001

KUWAIT

PIC Announces Plans For $2.2Bn Equate 2 Petrochemicals Project

Kuwait Petrochemicals Industries Company (PIC), a subsidiary of the Kuwait Petroleum Corporation (KPC), announced on 4 February plans to set up a new $2.2bn petrochemicals project, Equate 2, with a capacity for producing 450,000 tons/year of polyethylene, 460,000 t/y of ethylene glycol and 220,000 t/y of polypropylene. PIC holds a 45% stake in the Equate Petrochemical Company, along with Union...