Petrochemicals Industries Company (PIC) to Invest into Foreign Petchem Projects
CHEMMONITOR.COM – Petrochemicals Industries Company (PIC), a Kuwait-based producer of fertilizers, olefins, and aromatic products and an affiliate of Kuwait’s national oil company Kuwait Petroleum Corporation, is slated to invest in several overseas petrochemical projects during the next five years. The investments are assessed at about USD 8 billion.
PIC’s investment plans include the construction of new plants and expansion of the current facilities. Thus, the company is planning to invest into a paraxylene (PX) plant in Bahrain. This PX facility will be jointly owned by PIC and National Oil and Gas Authority of Bahrain.