Kuwait Aromatics names new directors
Kuwait, January 2, 2013
Kuwait Aromatics Company (Karo), a major joint venture company owning aromatics and styrene facilities in Kuwait, has named Ahmad Al-Jemaz as its new chairman of the board of directors.
Karo is a joint venture grouping Petrochemical Industries Company (PIC) with 40 per cent, Kuwait National Petroleum Company (KNPC) with 40 per cent, while Qurain Petrochemical Industries Company (QPIC) owns the remaining 20 per cent.
Jehad Al-Hajji was elected as deputy chairman while Mutlaq Al-Azmi and Nasser Al-Anzi will serve as representatives of KNPC and PIC, and Fuad Akbar will represent QPIC.
With investments worth over $2 billion, Karo owns 100 per cent of Kuwait Paraxylene Production Company (KPPC) with products including paraxylne, benzene and heavy aromatics. In addition, Karo owns a 57.5 per cent 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. – TradeArabia News Service