Kuwait to launch new downstream company

Firm to manage Al-Zour refinery and a nearby petrochemical complex

The new company will manage Kuwait's Al Zour refinery, a nearby petrochemical complex and associated gas facilities.
The new company will manage Kuwait's Al Zour refinery, a nearby petrochemical complex and associated gas facilities.

Kuwait Petroleum Corporation is planning to launch a new integrated downstream company to manage the giant Al-Zour oil refinery currently under construction and a nearby petrochemical complex, according to local media reports.

The planned integrated complex, valued at $27bn, will be called Kuwait Petrochemicals and Refining Company, and will be located in the Al-Zour region in the south of Kuwait.

Procedures to launch the new company have been completed, sources told the Arabic daily Alseyassah, adding that as much as 50% of the project may be made available to the private sector, including firms and individuals.

“KPRC will manage Al Zour refinery, the petrochemicals complex and a project to supply gas to the complex,” the paper said, adding that the project involves production of fertilisers, olefins and aromatics, according to an Emirates 24/7 report.

“The new project will be called ‘Al-Zour oil complex’…the integration process will reduce costs and increase profitability,” the paper added.

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