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Kuwait, Bahrain ink deal to build joint aromatics factory
October 31, 2016, 8:57 am
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Kuwait's Petrochemical Industries Company (PIC) inked a deal Sunday with Bahrain's National Oil and Gas Authority (NOGA) to build a joint aromatics factory in the Kingdom with an annual production capacity of 1,44 tons.

The deal was made during a meeting held earlier between visiting Bahraini Oil Minister Sheikh Mohammad bin Khalifa Al-Khalifa and Kuwaiti Acting Deputy Prime Minister and Minister of Finance and Minister of Oil Anas Al-Saleh, Mohammad Al-Farhoud, IPC's Chief Executive Officer and Board member of Directors, stated to KUNA.

The agreement, which is based on the two countries' partnership, includes secondary products, Al-Farhoud noted, adding that details regarding that matter are to be discussed between the two sides later.

It is the second partnership in petrochemicals between Kuwait and Bahrain following a previous successful one with Gulf Petrochemical Industries Company (BSC), in which the Kuwaiti company owns around 33.3 percent, he noted. 

Source: KUNA

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