EQUATE to be sole operator of Kuwaiti petchems project
02 February 2009 12:13 [Source: ICIS news]
SINGAPORE (ICIS news)--Equate Petrochemical Co (EQUATE) is now the single operator of the assets of The Kuwait Olefins Company (TKPC), The Kuwait Styrene Company (TKSC) and Kuwait Paraxylene Production Company (KPPC), it said in a statement on Monday.The company coined the name “Greater Equate” for the single operational umbrella under which TKPC, TKSC and KPPC will be run.
“Greater Equate” is neither a corporate entity or joint venture and is merely a name for the project under which 5m tonnes of petrochemical products will be produced annually, EQUATE told ICIS news.
Equate is a joint venture between Kuwait's Petrochemical Industries Co (PIC) and US chemicals major Dow Chemical, with each owning a 42.5% stake. Local investors hold the balance of the ownership.
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