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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/

 



Filed Under (News) by Asrar Mohammad on September-1-2020

KUWAIT, 1st September, 2020 — EQUATE Group has published its latest sustainability performance results as it continues on its path to create long-term value and positive change in the communities it serves around the world. The company’s Sustainability Report 2017/18, was prepared in accordance with Global Reporting Initiative (GRI) standards and received the GRI Materiality Disclosures Stamp.

The report’s theme, Enhancing Value Creation through Global Integration, highlights the integration of EQUATE Petrochemical Company and its North American subsidiary MEGlobal as one organization – EQUATE Group – and outlines the collaborative efforts across different functions. This integration has enabled greater value creation for the group and further paved the way for long-term, sustainable growth. The report demonstrates EQUATE’s sustainability performance at multiple levels in the areas of economic contribution, environmental impact and care for people and communities.

Dr. Ramesh Ramachandran, EQUATE Group President and CEO, said: “As a global player in the petrochemical industry, we are conscious of our responsibilities at a global, regional and local level. We are wholeheartedly committed to the United Nations Sustainable Development Goals to which we align our sustainability strategy. Through our sustainability efforts, we aim to move towards operating in a sustainable economy, sustainable environment, and a sustainable community. “

Dr. Abeer Al-Omar, EQUATE Group Sustainability Committee Leader, said: “We apply a triple bottom line approach to business across our areas of operation, and into the economies and communities in which we have presence.   Measurement is key to achieving real results, and our bi-annual Sustainability Report holds us accountable for our progress and keeps us on track in our commitment to making life better for all.”

The report can be found at: https://www.equate.com/reporting/

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



Filed Under (News) by Asrar Mohammad on June-15-2020

Today, the Board of Directors of the EQUATE Group is pleased to announce two new senior leadership appointments.

Sudhir Shenoy has been named Sr. Vice President of EQUATE, effective October 1, 2020. He will succeed Naser Aldousari, who has been appointed as the new Chief Executive Officer (CEO) of EQUATE, effective October 1, 2020.

Shenoy was previously Country President & CEO of Dow Chemical International Pvt. Ltd (Dow India), – a global material science company with India sales at over US$1.2 billion. Shenoy joined Dow in 1997 as a sales manager, and then moved into various management roles in Sales, Business, Asset and Commercial Management, based out of developed markets such as Europe, as well as fast growth markets such as China and India. He managed across large businesses like polyurethanes to market-facing businesses such as Home & Personal Care and Water Solutions. With his diverse expertise in his 20+ years with Dow, he played a key role in Dow’s growth in the specialty business segments, helping transform the company to a more customer-centric and innovation-focused organization.

“Having the opportunity to join EQUATE – an organization of global excellence within the petrochemical industry – is one that I am delighted to assume,” said Shenoy. “I look forward to being part of an organization that has enjoyed strong leadership since its inception and hope to contribute learnings gained in my career in other parts of the world for the long-term success of EQUATE.”

The Board also announced Phisanu Sermchaiwong, currently Dow’s Area Finance Director – Asia Pacific, will return to Kuwait to re-assume the EQUATE Chief Financial Officer role. He will replace Dawood Alabduljalil, Chief Financial Officer (CFO) for EQUATE since 2018, who is retiring in October, 2020. Sermchaiwong has held roles in Dow such as Financial Planning manager for North America, CFO of the SCG-Dow Group of joint ventures and Finance director for Dow Thailand. In 2009, he was appointed global Financial Planning director for the Treasury department and in 2014 he was appointed CFO of EQUATE. He was appointed to his current role in 2018. He said he looks forward to re-joining EQUATE.

“EQUATE’s culture of excellence puts us in the right position to continue to build on our success and lead our industry and communities into the future,” Sermchaiwong said.

Sulaiman AlMarzouqi, Chair of the EQUATE Board of Directors, said the organization is committed to a smooth and seamless transition within the senior leadership team as EQUATE prepares for a new era of continued success and growth.

“We welcome these two excellent leaders to our team as EQUATE continues to maximize stakeholder value by providing outstanding products and services to our customers,” he said. “We also recognize Mr. Dawood Alabduljalil for his contribution to EQUATE’s standing in global markets, and its continued success in the industry, and we wish him a long and healthy retirement.”

EQUATE Vice Chairman from Dow, Mr. Raja Zeidan added, “We are confident that with their strong industry expertise and experience, Mr. Shenoy and Mr. Sermchaiwong will do a tremendous job within the leadership team led by our new CEO, Naser Aldousari. I expect to see EQUATE continuing to build on its culture of excellence as an internationally recognized industry leader.”

 



Filed Under (News) by Asrar Mohammad on June-15-2020

KUWAIT, June 15th, 2020 — Effective Sept. 30, 2020, Dr. Ramesh Ramachandran will retire as CEO of the Greater EQUATE Group.

He will be replaced by Mr. Naser Aldousari, current Senior VP of EQUATE, whose career has spanned more than 24 years in the global petrochemical industry and includes several senior leadership roles with Petrochemical Industries Company (PIC) and membership on the EQUATE and The Kuwait Olefins Company (TKOC) Boards of Directors.

Sulaiman AlMarzouqi, Chair of the EQUATE Board of Directors, said the organization is committed to a smooth and seamless transition within the senior leadership team as EQUATE prepares for a new era of continued success and growth. On behalf of the Board, he thanked Dr. Ramachandran for his long and dedicated service to MEGlobal and EQUATE that delivered extraordinary results across the globe.

“As we enter a next phase of growth of EQUATE, Mr. Aldousari is ideal to take over the leadership of this great company,” he said. “He has the experience, knowledge and vision to lead EQUATE through this challenging time and prepare it for new levels of success in the future.”

EQUATE lead director from Dow, Mr. Raja Zeidan added, “We are looking forward to the leadership that Mr. Aldousari will bring to our organization. We also thank Dr. Ramachandran for the many milestones he achieved while CEO with MEGlobal and then CEO of EQUATE. He brought a new level of shareholder value and a global perspective that has become a core part of our identity and strategy. We thank him deeply for his leadership and dedication.”

Mr. Aldousari said he is looking forward to his new responsibilities.

“I am honored to assume the role of CEO of EQUATE,” Aldousari said. “I know this organization’s impressive achievements are only the beginning of what we can accomplish. I am grateful for the confidence placed in me by the Board and am committed to continuing the operational excellence, innovation and global leadership for which EQUATE has become known.”

He added, “I would like to thank Dr. Ramachandran for his hard work, innovative thinking and commitment to EQUATE’s values. He has taken us to a new level of achievement and has given us the platform from which to launch a new era of success for EQUATE.”

Dr. Ramachandran called his time as EQUATE CEO one of the pinnacles of his career.

It has been a privilege to work with a team of people dedicated to excellence, in whatever division or role in which they work,” he said. “EQUATERs can be proud of the successes we have achieved in the past few years and your resilience and determination will serve you well. Naser will make a superb CEO and with the support of the new leadership team, I have full confidence in his ability to continue the organizational excellence that makes EQUATE a global industry leader.”

 

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 June-1-2020

EQUATE supports the Kuwait government in its actions to contain the spread of coronavirus (COVID-19). EQUATE- Kuwait Offices will remain closed until further notice.



Filed Under (News) by Asrar Mohammad on March-31-2020

EQUATE supports the Kuwait government in its actions to contain the spread of coronavirus (COVID-19). EQUATE- Kuwait Offices will remain to be closed until April 23rd, 2020.



Filed Under (News) by Asrar Mohammad on March-13-2020

 

EQUATE supports the Kuwait government in its actions to contain the spread of coronavirus (COVID-19). In alignment with the Council of Ministers decision, EQUATE- Kuwait will be closed from the 12- 26 of March, with wok resuming on the 29th of March .