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Filed Under (News, News) by Asrar Mohammad on December-13-2023

KUWAIT, December 7th, 2023 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol, plays a pivotal role in the 17th GPCA Annual Forum, taking place from December 3rd to 6th, 2023, under the theme ‘Mobilizing Chemistry for Impactful Transformation.’

EQUATE has 22 representatives attending the forum and will showcase its latest initiatives at the EQUATE exhibition stand. The Group is also one of the sponsors at GPCA.

In line with the overarching theme of the event, EQUATE’s commitment to the future is demonstrated in its participation at the 2nd Youth Forum, facilitating the attendance of  younger members of EQUATE and students of Kuwait University, and sponsoring the GPCA Youth-Leader Debate, scheduled for December 4th, 2023. This open dialogue invites up-and-coming talent to challenge industry leaders on their commitment to sustainability and digitalization targets, and foster a dynamic exchange of ideas.

Naser Aldousari, President & CEO of EQUATE Group, who will address the GPCA’s Youth Forum as keynote speaker, said: “At EQUATE, we believe in the transformative power of dialogue and collaboration. As leaders today, we must engage with the next generation of engineers and industry experts who will lead our organizations in the future. Working together enables us to harness new ideas and innovations and combine them with the decades of experience our current leaders bring to the business. The 17th GPCA Annual Forum provides a valuable platform to enable this sharing of ideas and perspectives, catalyzing impactful change and continued success for our industry.”

Yousef AlGharabally, Global Procurement Director of EQUATE Group, will also share his expertise in a panel discussion on “Realizing opportunities for procurement collaboration in the GCC,” providing perspectives on collaboration in the region.

EQUATE is a founding member of GPCA, and an active leader in driving excellence in the chemical industry.

                                                        



Filed Under (News) by Asrar Mohammad on September-1-2022

KUWAIT, September 1, 2022 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol announced its earnings for the first half of 2022.

The EQUATE Group reported total revenue of US$2,238 million in H1 2022, compared to US$2,041 million during the same period in 2021. The Group also reported a net income after tax of US$537 million and EBITDA of US$855 million, compared to US$543 million and US$869 million, respectively for 2021.

Despite various macro-economic challenges, including the COVID-19 lockdown in China, the geopolitical conflict, and potential recessionary sentiments, EQUATE Group continues to prove that it is well positioned to adapt to market dynamics while advancing its long-term sustainable strategy.

Commenting on the results, Naser Aldousari, President & CEO of EQUATE Group, said: “Our positive performance reflects the strength and agility of our business portfolio, as well as the remarkable efforts of the EQUATE team in maintaining the well-being and safety of our team and the communities in which we operate.

“While current market dynamics remain challenging, we continue to identify and capitalize on areas of underlying strength.  Similarly, the competitive position of EQUATE’s global assets has enabled us to operate at maximum capacity and, with our global multi-sourcing capabilities, successfully continue to ship our products to customers.”

EQUATE Group’s results reflect their uncompromising focus on reliability and their proactive actions in navigating supply chain challenges and market dynamics to deliver our long-term sustainable  strategy.

-ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Disclaimer

This earnings announcement (the Announcement) is for information only. The announcement is based on financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement.

Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.



Filed Under (News) by Asrar Mohammad on August-11-2022

KUWAIT, Aug 10, 2022 — As part of its commitment to long-term sustainable development, the EQUATE Group, a global producer of petrochemicals, has signed a Memorandum of Understanding (MoU) with Omniya Project Management Company, a plastic recycling firm, in a bid to help close the loop on the plastics economy through the implementation of a joint community recycling program.

Signed by Naser Aldousari, President & CEO of EQUATE Group, and Sanaa AlGhemlas, CEO of Omniya, the agreement marks the strengthening of a collaborative partnership to develop and support environmental initiatives in Kuwait to minimize resource consumption and reduce waste.

Throughout the program, EQUATE Group will be the exclusive provider, responsible for the design, implementation, and delivery of the 45 Omniya’s plastic recycling containers across various locations in Kuwait.  The initiative aims to encourage the community to reduce plastic waste.  EQUATE Group will also support the initiative with the maintenance of two compressors used to collect, sort, and recycle waste.

Naser Aldousari, President & CEO of EQUATE Group, said: “Omniya has been a long-standing partner of EQUATE Group, and we are proud to expand the horizon of our cooperation by helping their latest efforts to develop and support recycling initiatives in Kuwait. We are committed to minimizing resource consumption and reducing waste as we aim to shrink our carbon footprint and help the plastics industry transition to a circular economy. Operating in a sustainable economy is a critical area of focus for EQUATE, and we will continue to support initiatives that strive to achieve this goal.”

Sanaa AlGhemlas, CEO of Omniya, added: “We are delighted to continue the over 5-year partnership with EQUATE Group and introduce a sustainable plastic recycling model. At Omniya, we’ve been doing a great deal in the region to reduce plastic waste, but in order to reach a circular economy, we need a variety of stakeholders throughout the entire supply chain to participate. EQUATE Group is paving the way among leaders in the plastics industry.”



Filed Under (News) by Asrar Mohammad on March-21-2022

Initiative raises awareness of fire hazard safety to keep Kuwait homes safe

KUWAIT, March 21, 2022 — As part of its commitment to the health, safety and wellbeing of the communities in which it operates, EQUATE Group’s decade-long support of the Kuwait Fire Force (KFF) continues with its latest home safety awareness campaign this month.  

The initiative runs from 16th – 31st March 2022, and includes information stands in The Avenues Mall and the University of Kuwait to increase awareness and understanding of potential fire hazards in the home, and how to ensure safety measures are followed.

EQUATE’s sponsorship includes participation by its Emergency Response Team (ERT) responsible for health and safety at the global petrochemical company, who will be present on the stands to share information and actively support KFF teams. The organization has also donated vital safety equipment, such as fire extinguishers, fire blankets and smoke detectors, for distribution on the stands.    

“Kuwait’s Fire Force provides a critical service in keeping both community and industry safe in our homes and work environments, and EQUATE is proud to have been helping to promote its safety initiatives for more than 10 years,” said Nawaf Al-Khaldi, EQUATE Vice President. 

“We hope that this new campaign will help our community to become more aware of potential hazards in the home, learn what measures should be taken to prevent accidents from happening, and what to do should a situation occur,” he added.

The KFF education booths will be located in the Phase II at The Avenues Mall from 16th – 23rd March, and in Kuwait University from 28th – 31st March.



Filed Under (News, Uncategorized) by Asrar Mohammad on March-20-2022

MEGlobal Canada moving to 100% Renewable Energy for its Alberta sites

EDMONTON, Alberta – March 16, 2022 – MEGlobal Canada ULC (MEGlobal) has entered into a 10-year agreement with Capital Power Corporation (TSX: CPX) to purchase a significant share of renewable energy (126 megawatts) from Capital Power’s Whitla Wind1 facility. The renewable energy is expected to meet the power needs at MEGlobal’s Canadian manufacturing facilities beginning April 1, 2022.

MEGlobal is a subsidiary of EQUATE Petrochemical Company K.S.C.C. (EQUATE) and part of the EQUATE Group.  MEGlobal has three operational sites in Alberta, located in Fort Saskatchewan and Lacombe County. These facilities produce ethylene glycol that is used to make essential products such as clothing, coolants and construction materials.

“Purchasing energy from renewable resources such as wind makes good sense for our company and the environment,” said Naser Aldousari, CEO of EQUATE. “This agreement exemplifies EQUATE’s dedication to delivering responsible product growth that meets the needs of the present without compromising the ability of future generations to meet their needs.”

“We’re excited to provide MEGlobal with renewable power for their operations in Alberta. As we work to power a sustainable future for people and planet, we’re committed to developing customized solutions that empower our partners to capitalize on the benefits of clean energy,” said Chris Kopecky, Senior Vice President and Chief Legal, Development and Commercial Officer. “Combined with our other renewable energy agreements, the additional phases of our Whitla Wind facility, representing a total of 151 MW of capacity, are now fully contracted for 100% of the energy generated and approximately 86% of the environmental attributes for 10 years.”

The carbon displacement from the agreement is estimated to be 2.119 MTCO2e. This is the equivalent of taking more than 461,000 cars off the road for a year, recycling over 90 million bags of waste instead of dumping in landfills, or the amount of greenhouse gases sequestered by 35,000,000 tree seedlings grown for 10 years.2

  1. Whitla Wind consists of 3 phases. Phase 1 (202 MW) is owned by Capital Power (Whitla) L.P. and phases 2 and 3 (151 MW) are owned by Whitla 2 Wind Generation L.P. The renewable energy agreement referred to in this media release is for the capacity and related attributes from phases 2 and 3.
  2. Comparison numbers in this paragraph are calculated from the U.S. EPA website.

About Capital Power

Capital Power is a growth-oriented North American wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alberta. We build, own and operate high-quality, utility-scale generation facilities that include renewables and thermal. We have also made significant investments in carbon capture and utilization to reduce carbon impacts and are committed to be off coal in 2023. Capital Power owns approximately 6,600 MW of power generation capacity at 26 facilities across North America. Projects in advanced development include approximately 425 MW of owned renewable generation capacity in North Carolina and Alberta and 512 MW of incremental natural gas combined cycle capacity, from the repowering of Genesee 1 and 2 in Alberta.

About MEGlobal

MEGlobal is a global leader in the manufacture and marketing of ethylene glycol (EG). With a worldwide network, MEGlobal markets its products throughout Asia, the Americas, Europe and the Middle East. MEGlobal embraces the principles of Responsible Care®, focusing on the safety of employees, neighbors, communities and the environment in every aspect of its operations. MEGlobal is a subsidiary of EQUATE and part of the EQUATE Group, one of the world’s largest producers of EG. Visit www.meglobal.biz for more information.



Filed Under (News) by Asrar Mohammad on October-12-2021

EQUATE Releases its 2019-2020 Sustainability Report Unveiling Advancements on Sustainability Initiatives

Leading with agility to maximize growth and resilience amid the pandemic

Kuwait, October 12th , 2021 — EQUATE Group, a global producer of petrochemicals, has published its seventh sustainability report highlighting its ongoing commitment to sustainable development across the organization and in the communities in which it operates. The report is prepared in accordance with Global Reporting Initiative (GRI) standards and received the GRI Materiality disclosure stamp.

The theme of the 7th edition “Leading with agility to maximize growth and build resilience amid the Covid-19 pandemic” highlights EQUATE Group’s organizational resilience and adaptation in the face of COVID-19 pandemic, including a number of case studies on responses undertaken during the reporting period.

“We believe that commitment to sustainability in all aspects is a key to success. Therefore, we have made progress in incorporating sustainability into our core business practices not only to produce high-quality products responsibly for our customers, but also to contribute to a more sustainable future.” Said Naser Aldousari, EQUATE Group President and CEO. “As the Covid-19 pandemic impacted the lives of people around the world, we stepped up as a responsible corporate citizen to help protect health and continue to provide essential products to markets around the world. Our agility and resilience enabled our operations to continue uninterrupted whilst protecting our people.”

EQUATE Group Sustainability Committee Leader, Dr. Abeer AlOmar, commented: “We chose to raise the bar by refreshing and expanding our sustainability strategy in 2019 which is aligned with The United Nations Sustainable Development Goals (SDGs). The report highlights EQUATE Group’s performance during the period 2019-2020 against the economic, and social pillars of sustainability in four key sectors – our economic growth, environmental stewardship, health and safety priorities, and responsibility towards our people.”

The full report along with English and Arabic executive summaries is available on the EQUATE Group website, click here: https://www.equate.com/reporting/

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals. The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com



Filed Under (News) by Asrar Mohammad on September-22-2021

MEGlobal Americas Inc. Plans For 100 Per Cent Renewable Electricity at Oyster Creek Site by 2023

Sep 21st, 2021

OYSTER CREEK, TX  – MEGlobal Americas Inc. (MEGlobal) has entered into an agreement with Calpine Energy Solutions, LLC to purchase renewable energy to fulfill 100 per cent of the expected power needs at MEGlobal’s Oyster Creek, TX site beginning in 2023.

The deal highlights the strong commitment made to sustainability by the EQUATE Petrochemical Group, of which MEGlobal is a part.

“Purchasing energy from renewable resources such as wind and solar makes good sense for our company and our environment,” said EQUATE CEO Naser Aldousari. “This agreement exemplifies EQUATE’s dedication to delivering responsible product growth that meets the needs of the present without compromising the ability of future generations to meet their needs.”

MEGlobal will purchase more than 1.5 million MWh of renewable electricity over the five-year term of the agreement, resulting in the displacement of more than 600,000 MT of carbon dioxide. That is the equivalent of taking more than 156,000 cars off the road for a year or diverting at least 28 million bags of trash from a landfill. When compared to common carbon offsets, the amount of displaced CO2e from this purchase is equal to the amount of carbon sequestered by more than 1.8 million acres of forest in a year.

“We are proud to have been able to deliver a solution to MEGlobal that made sense for them from a carbon abatement, risk and cost management perspective” said Jim Wood, President, Calpine Energy Solutions. 

The MEGlobal Oyster Creek Site began operations in 2019 and was designed with energy efficiency in mind, according to Site Leader Scott Daigle. Adding renewable electricity to the site’s infrastructure is another progressive step.

“We pride ourselves on our cutting-edge technology and we are constantly seeking ways we can make a great facility even better,” said Daigle. “Now, in addition to providing a valuable product that helps meet world demand, we are also working to optimize the way we integrate sustainability into our day-to-day operations.”

Daigle said MEGlobal will begin transitioning to renewable electricity in 2022.

About MEGlobal

MEGlobal is a global leader in the manufacture and marketing of ethylene glycol (EG). With a worldwide network, MEGlobal markets its products throughout Asia, the Americas, Europe and the Middle East. MEGlobal embraces the principles of Responsible Care®, focusing on the safety of employees, neighbors, communities and the environment in every aspect of its operations. MEGlobal is a subsidiary of the EQUATE Petrochemical Company (EQUATE.)

About Calpine Energy Solutions

Calpine Energy Solutions, LLC is a licensed retail energy provider in every deregulated state, and is one of the largest energy suppliers in North America by volume.  Most of its clients are large commercial or industrial entities that view the management of energy and carbon as an important strategic initiative and seek to leverage the company’s expertise in data management, risk management and renewable energy.  Calpine Energy Solutions is a wholly owned subsidiary of Calpine Corporation, America’s largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets.  Please visit www.calpinesolutions.com to learn more about how the company helps businesses transform their energy / carbon management programs from a traditional, transactional approach to a data-driven, sustainable business process.



Filed Under (News) by Asrar Mohammad on June-14-2021

As India’s COVID-19 crisis continues, global producer of petrochemicals pledges to donate $100,000

KUWAIT, June 14, 2021 — As part of its commitment to the health, safety and well-being of its employees, partners, and the communities in which it operates, EQUATE Group, a global producer of petrochemicals, has announced a donation of $100,000 to the Kuwait Red Crescent Society to support Covid-19 relief efforts in India. 

The donation is in response to the ongoing COVID-19 crisis in India, which has left many people devastated and hospitals unable to care for the sick. Donations will be used to fund much-needed resources and medical equipment, including cylinders to facilitate increased oxygen supply for patients across the country.   

“At EQUATE, our highest priority continues to be the safety and wellbeing of people, and wanted to provide practical support to those hit hardest by the pandemic in India” said Naser Aldousari, EQUATE Group President and CEO, “The efforts of Red Crescent Society Kuwait in enabling this relief initiative is exemplary, and we thank Dr. Hilal Al Sayer, Chairman of the Society, for giving EQUATE the opportunity to contribute in a meaningful way.

“We also deeply appreciate both Kuwait’s Ambassador to India, H.E. Mr.  Jassem Ibrahim Al-Najim and Ambassador Sibi George, India’s ambassador to Kuwait, for their collaborative and continuous support to our business and the communities to which we are connected.”

About EQUATE Group

The EQUATE Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society.



Filed Under (News) by Asrar Mohammad on September-29-2020

EQUATE Petrochemical Company extends its deepest condolences to the people of Kuwait on the sad demise of Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. In his lifetime, the humanitarian Sheikh Sabah has guided the nation through an era of peace and prosperity, setting an example of dignity, wisdom, and leadership that will continue to inspire us all. We ask Allah Almighty to grant his soul eternal rest, and his loved ones and his beloved people of Kuwait patience and solace.



Filed Under (News) by Asrar Mohammad on September-8-2020

KUWAIT, September 8th, 2020 — As part of its commitment to long-term sustainable development, the EQUATE Group, in partnership with the National Technology Enterprise Company (NTEC), has completed a solar power project that will deliver clean renewable energy for the Public Authority of Industry (PAI). Of the 655 solar panels that were placed on the PAI rooftop, approximately 419 Mwh will be generated per year to meet demand for electrical renewable energy that will help reduce about 252 tons of CO2 annually.

Commenting on the completion of the project, Abdulkarim Taqi, PAI Director-General, said: “This project is a demonstration of a successful private and public sector partnership that realizes the ambitions of His Highness Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to generate 15% of Kuwait’s power demand from renewable energy by 2030. The completion, in partnership with EQUATE Group and NTEC, of the installation of solar panels, is the first solar project of its size for the country – and will be used as a prototype for future government buildings to implement renewable energy solutions that create efficiencies and contribute to the protection of the environment.”

The Public Authority of Industry was established in 1997, to develop, promote and supervise the industrial activity in the State of Kuwait.

CEO-elect and Senior Vice President, Mr. Naser Aldousari, said: “The EQUATE Group has a long-term commitment to sustainability applied across all disciplines of our business, aiming to achieve sustainable economy, environment, and community.

“The Renewable Energy Project at the PAI building reflects Kuwait’s progressive steps in developing its sustainable energy production, and our partnership with NTEC on this affirms our shared mission to make as positive and sustainable an impact in everything we do.”

Anas Meerza, Group CEO, NTEC, said: “NTEC was mandated to play a role in identifying and initiating technology projects that contribute to the development of Kuwait, and the region. This latest partnership with EQUATE, employing technology that provides clean renewable energy for the PIA is a successful demonstration of this. We believe that this will encourage more private sector and international companies to play a role in expanding the country’s solar energy capabilities.”

EQUATE continues invests an annual average of US$ 500 million in the Kuwait economy. This includes employment of national professionals, contribution to social, educational and environmental initiatives, as well as partnering with the local private sector in its operational local content.

 

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

 

ABOUT THE PUBLIC AUTHORITY FOR INDUSTRY

On 15 January 1997, Public Authority for Industry was established and it is an autonomous authority under the supervision of the Minister of Commerce & Industry. The purpose of such an establishment was developing, promoting and supervising the industrial activity in the State of Kuwait, through encouraging local industries, protecting and expanding the production base to including strategic goods required for national and nutritional security, and this would diversify national income sources which is a main goal for PAI. In addition to that it is in PAI’s concern to deepening the industrial awareness of the citizens, and helps propagate studies, coordinate between the existing industries and that proposed for future at GCC and Arabian countries and consolidates the industrial cooperation with different countries and international organization. Visit https://www.pai.gov.kw/

 

ABOUT THE NATIONAL ENTERPRISE COMPANY (NTEC)

The National Technology Enterprises Company (NTEC) was established back in November of 2002 and operational in late 2004, by the Kuwait Council of Ministers as a fully owned subsidiary of the Kuwait Investment Authority (KIA). Capitalized at 100 Million Kuwaiti Dinars (Approximately 350 Million U.S. Dollars), with a paid up capital of 85 Million Kuwaiti Dinars. NTEC was created to play a vital role in servicing major stakeholders in Kuwait with their technology needs. The company holds a unique position being fully owned by the Kuwaiti Government, yet enjoys all private sector privileges and operates as such; with its own business license, articles of association, board of directors and capital, NTEC was able to utilize its broad objectives and technology focus being: Information & Communications Technologies, Life Sciences & Healthcare Technologies, Energy, Renewable Energy, Water & Environmental Technologies, to develop distinctive operational and investment strategies to address its core mandate: Technology & Knowledge Transfer. Visit https://www.ntec.com.kw/

 



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