Kuwait's Qurain plans to develop PTA plant

17 April 2008 11:56  [Source: ICIS news]

DUBAI (ICIS news)--Qurain Petrochemical Industries Co (QPIC) is planning to build a Kuwaiti dinars (KD) 800m ($3bn) purified terephthalic acid (PTA) plant in Kuwait, said CEO Shaikh Mubarak Abdullah al-Mubarak al-Sabah.

Speaking at QPIC's general meeting which took place late on Wednesday, the CEO said that the company has received all the necessary governmental approvals to start the project.

Further details about the project, which will be a joint venture with local and international companies, were not disclosed.

On other projects QPIC is involved in, the paraxylene and styrene plant has reached 75% completion, while the Olefins II project will go on stream by the end of this year, the CEO told the meeting.

A methanol project in Algeria which the company is working on as part of the Almet consortium is expected to start by the end of this year, he added.

QPIC is a joint stock company established in 2004 whose main investments are in the petrochemical industry.

($1 = KD0.27)

For more on PTA visit ICIS chemical intelligence

By: Abdelghani Henni
65 6780 4359

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