Middle East Economic Survey

VOL. LIII

No 23

7-Jun-2010

KUWAIT

Qurain Forms New Company To Build PTA And PET Plants

Kuwaits Qurain Petrochemical Industries has established a new company to build two petrochemical plants at the cost of $700mn, Reuters reported on 1 June. Qurain will hold 90% of the new venture, called United Petrochemical Company (UPC), while Kuwaits United Industries Company will hold 10%. The report cited a company statement sating that the new projects will be Kuwaits first...