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Kuwait to invest US$15bn in petrochemical industry

January 11/2011

(Arabian Oil and Gas) -- Kuwait is set to invest US$15 billion in petrochemical projects in the future, according to Saad Al Ajmi, DMD of financial and administrative affairs of Kuwait based Petrochemicals Industries Company (PIC).


Al Ajmi said in an interview with a local newspaper that his company has already invested $5 billion in the last three years, and he mentioned that his company has gone a long way to achieve its vision through establishing different projects inside and outside the State of Kuwait.


As per the companys strategy, Al Ajmi said that his company aims to increase the participation of the private sector in the petrochemicals projects, and draw on the lessons from the success of EQUATE.


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