Date(s) - 02 January 2013
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Kuwait – January 2- 2013 — Kuwait Aromatics Company (KARO) has named the members of its new board of directors.
KARO is a joint venture grouping Petrochemical Industries Company (PIC) with 40%, Kuwait National Petroleum Company (KNPC) with 40%, while Qurain Petrochemical Industries Company (QPIC) owns the remaining 20%.
Ahmad Al-Jemaz was elected as the new chairman of the board and Jehad Al-Hajji as deputy chairman with the membership of Mutlaq Al-Azmi and Nasser Al-Anzi as representatives of KNPC and PIC, as well as Fuad Akbar representing QPIC.
With investments worth over USD 2 billion, KARO owns aromatics and styrene facilities in Kuwait. Owning 100% of Kuwait Paraxylene Production Company (KPPC) with products including 829,000 metric tons annually (MTA) of Paraxylne, 363,000 MTA of Benzene and 80,000 MTA of Heavy Aromatics. In addition, KARO owns a 57.5% stake in The Kuwait Styrene Company (TKSC) producing 450,000 MTA of Styrene Monomer
EQUATE Petrochemical Company is the single operator of Greater EQUATE, which includes KPPC, TKSC and The Kuwait Olefins Company (TKOC) under one fully integrated operational umbrella at Kuwait’s Shuaiba Industrial Area.
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.