Date(s) - 18 November 2013
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EQUATE Petrochemical Company President & CEO Mohammad Husain said that the Gulf’s total production capacity of petrochemicals and chemicals will exceed 150 million metric tons.
On the occasion of EQUATE’s sponsorship of the 8th Annual Gulf Petrochemicals & Chemicals Association (GPCA) Forum, Husain said, “During 2012, the Gulf’s production capacity of petrochemicals and chemicals, excluding pharmaceuticals, exceeded 129 million tons.
Husaid added, “The total value of the global chemical and petrochemical production during 2012 was over USD 3.8 trillion with 2.5% of it belonging to Gulf countries.”
Husain noted, “With the Gulf representing over 10% of the global petrochemical production, Kuwait is currently the fourth biggest petrochemical producer in the Gulf, following Saudi Arabia, Qatar and Oman.”
Husain noted, “The main challenges facing the Gulf’s petrochemical industry is relevant to feedstock shortage, port congestions, inadequate infrastructure and instability of market conditions, as well as scarcity in human resources with the required technical skills.”
Husain said that EQUATE’s total production capacities, from plants owned and operated by it, exceed 5 million metric tons of products, including ethylene, polyethylene, polypropylene, ethylene glycol, heavy aromatics, benzene styrene monomer and paraxylene.
With the attendance of over 1700 industrial leaders, experts and enthusiasts from around the world, the 8th Annual GPCA Forum will be held in Dubai, the UAE, during November 19-21.
Established in 1995, EQUATE is an international joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is the single operator of a fully integrated world-scale manufacturing facility producing over 5 million tons annually of high-quality petrochemical products which are marketed throughout the Middle East, Asia, Africa and Europe.