Kuwait ranks fourth among Gulf state countries in terms of petrochemical production, says CEO of Equate; country accounts for 6% of region's capacity, while Saudi Arabia claims 68%
August 28, 2013
(South Asian Government News)
– New Delhi: National Textile Corporation Limited, The Government of India has issued the following news release:
In terms of petrochemical production capacities, Kuwait ranks fourth among the Gulf countries, Mohammad Husain, president and CEO of EQUATE Petrochemical Company, has said.
“In terms of petrochemical production capacities in the Gulf, Kuwait has the fourth rank with six percent, while Saudi Arabia claims the lion’s share with 68%, followed by Qatar and Oman respectively,” Mr. Husain said at a seminar organized by the American Institute of Chemical Engineers Kuwait University Student Chapter (AIChE) at Kuwait University.
“During 2012, Gulf nations accounted for 13 percent of the global petrochemical production,” Mr. Husain said, according to a statement.
Success means not only executing set plans and earning profits, but it also means integration between all relevant elements to achieve sustainability, he said.
It is a result of sustainability with the participation of qualified human resources who represent the main cornerstone for any organization, who should also have the ability for further development, tackling different challenges and dealing with all stakeholders by embodying the tagline of ‘Partners in Success’, he added.
Talking about EQUATE, Mr. Husain said being the first international petrochemical joint-venture in Kuwait and the entire Gulf, did not mean superiority or instantaneous success.
Instead, EQUATE has realized several international achievements through its distinguished human resources, especially Kuwaiti nationals, Mr. Husain affirmed.
Established in 1995, EQUATE is the single operator of a fully integrated world-scale manufacturing facility with an annual capacity to produce over 5 million tons of petrochemical products, which are marketed throughout the Middle East, Asia, Africa and Europe.
AIChE is the world's leading organization for chemical engineering professionals, with over 45,000 members from over 90 countries.