Minister of Commerce and Industry Yousef Al-Ali said on Wednesday the opening of Kuwait's first Carbon Dioxide (CO2) Plant is a tangible step for developing industrial sector as a significant income source.
EQUATE Petrochemical Company, Kuwait's first international joint-venture in this industry, and Gulf Cryo, a leading manufacturer of industrial, medical and specialty gases in the MENA region, hosted an official ceremony for the inauguration of Kuwait's first Carbon Dioxide (CO2) Plant under the patronage of the Minister of Commerce and Industry.
The company, in a statement, quoted the minister as saying following the opening ceremony: "Throughout the years, Kuwait has realized a number of accomplishments in developing the industrial sector as a key contributor to diversifying income sources, utilizing latest technology, increasing the role of productive fields, and, most importantly, attracting highly qualified human resources with their innovative capabilities."
He added that sustainable partnership between EQUATE and Gulf Cryo is a positive step for a partnership in industrial, economic and environmental fields in Kuwait to embody "Partners in Success".
The minister pointed out that without any doubt, continuing this partnership and launching similar initiatives would deliver multi-lateral benefits.
On his part, EQUATE President and CEO Mohammad Husain said: "The main achievements for EQUATE are the Partnerships we have established with our stakeholders, such as our employees, government organizations and business partners. Starting our collaboration with Gulf Cryo since 2004 is truly an example of 'Partners in Success' to ensure sustainable economic, environmental and industrial added-values for Kuwait and beyond.
" Launching collaboration for Kuwait's First Carbon Dioxide (CO2) Plant, EQUATE Petrochemical Company and Gulf Cryo continue reflecting "Partners in Success", he said. "Aimed at achieving a number of economic, industrial and environmental added-values for overall sustainability in Kuwait, this plant is part of innovation-based initiatives by EQUATE and Gulf Cryo in their business partnership that commenced in 2004," he noted.
With a design capacity of 280 metric tons per day, the plant involves EQUATE providing raw CO2 resulting from its industrial operations to Gulf Cryo, he added.
Meanwhile, Gulf Cryo Vice Chairman Saad Al-Shuwaib said: "The CO2 plant is a pioneering environmental initiative to preserve and protect Kuwait's environment. It is a reflection of the commitment by industrial bodies to the environment."
This plant is truly a milestone as it is partnership between two private entities, EQUATE and Gulf Cryo that resulted in establishing the plant within record time while maintaining global best practices through utilizing the latest technology to manufacture high quality products, he added.