EQUATE is a global producer of petrochemicals and the second largest producer of Ethylene Glycol in the world, providing reliable products and solutions that serve as the basis to everyday consumable products and participate in sustaining a better world. The Company prides itself as the partner of choice to global customers and is an active member of the community in which it supports stakeholders to attain their objectives.
Leading by example in best business practices, EQUATE’s investments in operational excellence and sustainable development have earned it internationally recognized achievements. The Company has adopted its Sustainability Strategy focusing on 16 strategic initiatives that it aims to achieve by the year 2025. These initiatives are divided into building a sustainable work and operational environment, innovating for a renewable and sustainable energy industry, and positively impacting the environment and local communities.
EQUATE’s successful partnership benefits from the advantages of combining innovation and industrial expertise with competent human resources, technological breakthroughs, rich feedstock and valuable infrastructure.
Established in 1995 as Kuwait’s first international joint venture in this industry, EQUATE embodies its “Partners in Success” slogan through the partnership between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC).
Upholding World-Class Production
Producing annually over 6 million tons of the highest quality grades of Ethylene, Ethylene Glycol (EG), Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Styrene Monomer (SM), Paraxylene (PX), Heavy Aromatics (HA) and Benzene (BZ), EQUATE markets its products throughout Asia, the Americas, Europe, the Middle East and Africa.
The Company owns and operates world-class petrochemical complexes in Kuwait, North America and Europe through its subsidiary MEGlobal and the Greater EQUATE joint venture which holds under one fully-integrated operational umbrella each of EQUATE, The Kuwait Styrene Company (TKSC), Kuwait Paraxylene Production Company (KPPC) and The Kuwait Olefins Company (TKOC).
Having acquired MEGlobal in 2015, EQUATE became the second largest producer of Ethylene Glycol in the world and immediately benefited from significant economies of scale with a larger and more diversified distribution platform through Kuwait, Germany, Canada and the United States. The acquisition also contributed in optimizing the Company’s cost structure and improving its operational efficiency thanks to multiple points of access to feedstock from sources in North America and the Middle East.
EQUATE is presently developing a new industrial complex in Freeport, Texas, USA, which is scheduled to be completed in 2019. The new facility will increase EQUATE’s Monoethylene Glycol (MEG) capacity by 750,000 metric tons annually (MTA) and enhances EQUATE’s global presence to meet customer needs. It also makes it the first Kuwaiti petrochemical company to establish an industrial complex in the USA and the first in the Middle East to benefit from USA-based shale gas.
In 2016, EQUATE became the first Kuwaiti company to issue 144A transaction bonds that are tradable in the USA at a value of $2.25 billion. The bond issuance is considered the largest ever in Kuwait’s history and it is the Arabian Gulf’s largest bond issuance since 2014. This is following EQUATE’s securing investment grade ratings by S&P (BBB+) and Moody’s (Baa2), two of the largest independent rating agencies.
Investing in our Human Capital
EQUATE’s solid international expertise and exceptional performance in production, marketing, logistics, customer service and other fields are the direct result of over 1,200 employees representing over 25 nationalities from around the world, with a Kuwaitization ratio exceeding 50%. In addition, EQUATE is one of the first Kuwaiti corporations to establish Innovation Centers to encourage development.
As the first Kuwaiti organization to adopt Six Sigma methodology and Highly Reliable Organization (HRO) principles, EQUATE’s human capital have proven their innovative capabilities, admirable dedication and global achievements. In addition, EQUATE is one of the first Kuwaiti corporations to establish Innovation Centers to encourage original thinking. Six Sigma methodology is a set of techniques and tools for process improvement to deliver the best possible results while minimizing cost, time and effort. HRO is about overcoming all risks and challenges through the integrated reliability of the human capital, equipment and process to ensure overall success.
A Responsible Market Player
By providing exceptional customer service, EQUATE is renowned for its long-standing relations, innovative solutions and high-quality products for its clients around the world.
EQUATE produces a wide range of PE from linear low-density (LLDPE) to high molecular weight high-density (HDPE), which are marketed by EQUATE Marketing Company (EMC), a partnership between PIC and Dow. In addition, EMC handles the sales of SM from greater EQUATE facilities.
EQUATE also manufactures premium quality Monoethylene Glycol (MEG) and Diethylene Glycol (DEG) that are marketed by our wholly-owned subsidiary, MEGlobal.
Furthermore, EQUATE is the single operator of facilities producing PP, HA and PX which are marketed by PIC, while BZ is used in manufacturing SM.
Environment, Health and Safety Excellence
Safety and environment are top priorities for EQUATE, which resulted in it becoming the first accredited and certified Responsible Care (RC) organization in Kuwait.
Kuwait’s first seawater-cooling towers were established by EQUATE to protect the marine life and water recycling on-site. In addition, EQUATE has launched many major initiatives, such as the Middle East’s first plant water recycle project and Kuwait’s first CO2 recovery plant.
In accordance with the requirements of Responsible Care, as well as ISO 9001 and ISO 14001, EQUATE upholds the highest standards of environmental, health and safety practices in its operations. Safety of employees, suppliers, customers and the community always comes first.
Aiming for Sustainability
As a leading industrial organization, EQUATE dedicates its utmost commitment and care to overall sustainability wherever it operates. In cooperation with public and private bodies, including employees, the society and customers, EQUATE continues launching initiatives in all relevant fields. These domains include human development, environment, education, health, as well as public awareness. Such a focus on sustainability has made EQUATE an inspiring role model within and outside Kuwait.
EQUATE is also making a significant economic contribution to the Kuwaiti economy and the global petrochemical industry. Ethylene-based products from EQUATE now account for over 60% of Kuwait’s export value from non-oil sources. By spending over $2 billion annually in several fields, EQUATE also plays a positive role in local and global business sectors. Since commencing its operations in 1997, EQUATE has contributed significantly to the growth of the Kuwaiti plastics industry by over 400%.
In recognition of its sustainability milestones, EQUATE has earned several prestigious national and international honors for industrial distinction; sustainability achievements; corporate leadership; Environment, Health and Safety (EH&S) excellence; Corporate Social Responsibility (CSR) initiatives; world-class partnerships; strategies for developing national human resources; and other relevant awards.
A Culture of Innovation
Success alone has never been EQUATE’s only objective; partnership and teamwork are main pillars of our corporate culture. The overall sustainability of our workforce, shareholders, customers, suppliers and surrounding communities are the main element of EQUATE’s success. EQUATE will continue its growth through being “Partners in Success” with all stakeholders.