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FINANCIAL NEWS
Kuwait’s PIC to shut-down plant for 2 months
12 Dec 2010
(MENAFN) Maha Mulla Hussain, Managing Director of Kuwait’s state-run Petrochemical Industries Co (PIC), explained that as part of a scheduled maintenance, the company will shutdown its polypropylene plant for two months in March 2011, Reuters reported.
According to the Managing Director, the shut-down is related to upgrading the three refineries for Kuwait National Petroleum Co (KNPC), who is also restrained to a certain time period.
The polypropylene plant, which is considered to be one of the company’s most important plants in Shuaiba, has a production capacity of approximately 150,000 tons, she said.
According to PIC, the upcoming petrochemical plant, which will cost about $5 billion, is scheduled to be operational by 2015, and will produce over 1 million metric tons of ethylene annually.
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