MOSCOW (MRC) -- Petrochemical Industries Company's (PIC) CEO Mr. Mohammed Abdullatif Al-Farhoud announced signing the Front End Engineering and Design (FEED) contract for the Third Olefins and Second Aromatics Project Integrated with Al-Zour Refinery, and that with Amec Foster Wheeler company, said PIC.
Al-Farhoud said after signing the contract that Amec Foster Wheeler won the tender as the project's manager and consultant to carry out primary engineering designs with a total cost of USD34 million. He added that the project is expected to finish and actual production to start during the second quarter of 2022.
Meanwhile, Deputy CEO for Olefins and Aromatics at PIC Mrs. Husneya Hashem said that the Third Olefins and Second Aromatics Project Integrated with Al-Zour Refinery is considered one of the most important strategic initiatives for PIC, and seeks to improve Kuwait's position in the petrochemical industry and execute the company's strategy of expansion in basic petrochemicals. It is also a model of integration between KPC subsidiaries.
Hashem further explained that the project's goal is to build a petrochemical complex to produce 940,000 tons of polypropylene annually, 1.4 million tons of paraxylene annually, 420,000 tons of gasoline annually and 208,900 tons of fuel annually using propene and naphtha from Al-Zour Refinery.
It is worth mentioning that KPC's Board of Directors gave approval for going ahead with executing the petrochemicals complex, after receiving approval from the Supreme Petroleum Council. The project has an initial total cost of USD7.8 billion, joining other mega strategic oil projects in Kuwait.
MRC