KNPC ties key to Equate growth says official
Kuwait, February 10, 2011
Kuwait’s growth in the petrochemical industry relies heavily on the continuous support and cooperation of Kuwait National Petroleum Company (KNPC) and its subsidiaries, a senior official of Equate said.
Sustaining the strong partnerships with KNPC and investing into core business foundations is a major priority for the company, said Equate senior executive for corporate communications and client affairs Adel Al-Munifi.
“While Equate's products form over 80 per cent of Kuwait’s non-oil exports, the petrochemical industry in Kuwait still remains relatively small compared to the Gulf petrochemical industry,” he said.
He was speaking during a visit to Equate by a number of KNPC technical staff.
Al-Munifi added: “The expected global growth of the industry over the next decade is very positive. Growth will be predominantly driven by high demands across Asia and the Indian subcontinent as those markets continue to expand at a rate of 5-9 per cent exceeding the average world gross domestic product (GDP) growth of 3 per cent. We must continue to seek initiatives to increase our capacity and invest into strengthening our market position.”
“Hosting the KNPC delegation and other similar industry participants is part of Equate's ongoing strategy and efforts to add value to the petrochemical industry in Kuwait,” stressed Al-Munifi.
During the visit, technical presentations on information technology in business applications were given by Equate employees. -TradeArabia News Service