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Kuwait's QPIC to launch a new petrochemical project

June 14/2011

(Arabian Oil and Gas) -- Kuwaiti firm Qurain Petrochemical Industries Company (QPIC) is set to receive approval from the Saudi authorities for a new petrochemical project very soon, according to Issa al-Issa, vice-chairman.

Al-Issa said that the new project, to be located in Jubail Industrial City, will produce PTA and polyethylene terephthalate (PET) feedstocks. He anticipates construction work will begin by the second half 2012. Al-Issa also said that the cost of the project will be at around USD 1bn, and employ between 400 and 500 employees when complete.

Tags:PET, TFK.
Category:General News
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