Kuwait's KARO to start heavy aroms sale in '11, eyes new project

04 October 2010 07:09  [Source: ICIS news]

SINGAPORE (ICIS)--Kuwait Aromatics Co (KARO) will start selling heavy aromatics next year and is currently conducting a feasibility study on a new downstream project, the company chairman said over the weekend.

“We will start offering heavy aromatics during next year. That will add more volumes to our export quantities and will increase the company’s returns,” said Bakhit Al-Rashidi in a statement dated 2 October.

No further details were provided.

Kuwait Paraxylene Production Company (KPCC), a wholly-owned subsidiary of KARO, currently produces 829,000 tonnes of paraxylene (PX) and 393,000 tonnes/year of benzene at its $2bn aromatics complex in Kuwait, according to Al-Rashidi.

Meanwhile, KARO was looking at pursuing a downstream project that involves using PX products as feedstock, Al-Rashid said.

“We are presently at the feasibility stage and aim to finalise it during 2011,” he added.

KARO is a joint venture (JV) between Kuwait’s Petrochemical Industries Company (PIC), Kuwait National Petroleum Company (KNPC) and Qurain Petrochemical Industries Company (QPIC).

PIC and KNPC each has a 40% stake in the JV, while QPIC owns the remaining 20%.

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By: Nurluqman Suratman



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