08 December 2010 03:21 [Source: ICIS news]
DUBAI (ICIS)--Kuwait's Petrochemical Industries Co (PIC) is looking to produce 1m tonnes/year of polyethylene (PE) and 400,000–600,000 tonnes/year of polypropylene (PP) at its Olefins III joint venture with EQUATE, a source close to the project said on Wednesday.
“PIC and EQUATE are also open to other interested investors from the private sector participating in the project,” the source said on the sidelines of the 5th Gulf Petrochemicals and Chemicals Association (GPCA) forum in Dubai, the United Arab Emirates.
“The project may also include a monoethylene glycol (MEG) plant, but all this is still at the discussion stage,” he added.
The plants would be located at Zour in Kuwait, alongside a fourth refinery being planned by Kuwait Petroleum Corp (KPC), from which the Olefins III cracker can source naphtha from, the source said.
KPC currently owns the Al-Shuaiba, Mina Abdulla and Mina Al-Ahmadi refineries, which are located to the south of Kuwait city.
Gas feedstock would be sourced from new gas extraction projects being initiated by the Kuwaiti government to overcome shortages, especially in summer, when gas is in high demand for power generation.
The three-day annual GPCA forum runs on 7-9 December.
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