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- Al-Farhoud: The company executes opportunities for industrial investment in the field of petrochemicals in Kuwait
- Al-Qallaf: Kuwait Projects Co. allocates 100 million dollars to establish a leaf production plant Polypropylene
Industrial and Metallurgical Company to implement two investment opportunities in the petrochemical field on the local market.
On the occasion, the CEO of Petrochemical Industries Company, Mohamed Al Farhoud said at a press conference held yesterday that the first investment opportunity awarded to the Kuwait Industrial Projects Company owned at the Industrial Bank of Kuwait to implement an industrial investment opportunity to build a polypropylene sheet production plant with a production capacity of 30,000 tons per year with an annual potential of 60,000 tons. Who will build and operate in turn a plant for the production of polypropylene sheets used in food and pharmaceutical packaging and in the manufacture of adhesive tapes and posters
"The Petrochemical Industries Company will supply the plant raw material that will be responsible for the production of polypropylene fibers, which are used in the manufacture of polypropylene fiber bags, Farhoud explained that this cooperation is the result of Continued efforts to implement the strategy of Kuwait Petroleum Corporation to strengthen the participation of the local private sector in the oil industry, where the Foundation has formed several teams representatives of the Foundation and its affiliates to identify A list industrial investment opportunities available for the private sector In February 2017, the sector "Local content in the oil sector" presented these opportunities to the private sector, according to the interest shown by investors for opportunities. presented and a workshop was organized in December 2017 with a number of local businesses that have expressed their desire to invest.
A paper entitled "The role of the private sector in oil projects" was presented at a "strategic conference" Kuwait is a center for the development of industrial industries "In February 2018, these opportunities were discussed, then offers from investors were evaluated to select the best deals that resulted in these two opportunities.
Farhoud noted that the company is eager to support the local content program by encouraging participation The sector private sector in the petrochemical sector by supporting its direct participation in Kuwaiti enterprise projects characterized by global production capacity and global competitiveness.
The company aims to promote and develop oil and gas projects. medium size in the chemicals and plastics sector Services sector (logistics, transport, etc.) to support petrochemical activities in Kuwait.
He emphasized that these opportunities are part of many future opportunities and that the petrochemical industries will continue to create more opportunities for industrial investment to support the local private sector. Al-Farhoud pointed out that the company has 11 investment opportunities in the local private sector, the investment volume ranging between 20 and 30 million dollars for a total value of about 330 million of dollars.
These opportunities are designed to create jobs for citizens. , Explaining that of
For its part, the chairman of the Kuwaiti Industrial Projects Company Jawad Al-Qallaf said the company has allocated $ 100 million for the production of polypropylene sheets and the location of the project In the industrial zone of Shuaiba For its part, the chairman of the board of directors of the metallurgical and manufacturing industries, Tarek Al-Moussa, declared that the opportunity offered to him aims to establish a factory in Mina Abdullah on an area of 5 to 10 thousand meters, the company is currently conducting feasibility studies © Al Anba 2018
