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Friday , October 23 2020

EQUATE sponsors Kuwait Industries Expo – Firm seeks industrial integration for economic diversification

Photo from the EQUATE event
Photo from the EQUATE event

KUWAIT CITY, Oct 9: Under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, EQUATE Petrochemical Company, Kuwait’s first international joint-venture in this industry, sponsored the Third Kuwait Industries Expo 2016.

Through this sponsorship for the third consecutive year, EQUATE aspires to strengthen cooperation and coordination among Kuwait’s industrial organizations, as well as familiarize the public with the role and added-value of the Kuwaiti industrial sector.

EQUATE President & CEO Mohammad Husain said, “We seek overall industrial collaboration and integration by all industry-related bodies in Kuwait, public and private. Such a step would greatly contribute to the diversification of our national economy, especially that EQUATE’s petrochemical products represent over 60% of Kuwait’s export value from non-oil sources. In addition, EQUATE has contributed to the growth of the local plastics industry by over 450% and supported these local manufacturers to launch export operations to several countries.”

Husain added, “As a global industrial enterprise, EQUATE is the first Kuwaiti petrochemical company to establish an industrial investment in the USA through a world-scale ethylene glycol (EG) plant with a capacity of 750,000 metric tons annually. The plant is expected to be finalized during 2019. Currently, EQUATE is the world’s second largest producer of ethylene glycol (EG) with a 12% market share.” EG is used in a number of market applications, including polyester fibers, polyethylene terephthalate (PET) bottles and packaging, antifreeze and coolants, paints, resins, deicing fluids, heat transfer fluids and construction materials.

Husain added, “Through this expo, we can highlight the vitality of the Kuwaiti petrochemical sector in the development and progress of our national economy by diversifying income sources, devising additional added-value, creating job opportunities especially for nationals, as well as contributing to overall sustainability. This can be done through the integration of oil, gas and petrochemical sectors.”

Husain expressed appreciation and gratitude to Kuwait Industries Union (KIU) along with all participants in the expo for their role in organizing and enriching this event.

During the opening ceremony, EQUATE’s exhibition stand hosted the representative of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Her Excellency the Minister of Social Affairs & Labor and Minister of State for Development and Planning Affairs Hind Al-Sabeeh. EQUATE’s stand has attracted numerous attendees who are interested in receiving more information about the company’s activities and overall contributions.

Kuwait Industries Expo 2016 is held from the 9th to the 11th of October at the Sheraton Hotel in Kuwait City.

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