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Largest investment in SK Peak in S. Korea at KD 148.8m
KUWAIT CITY, Jan 4: According to financial data obtained by Al-Anba daily, Kuwait Petroleum Corporation (KPC) and its subsidiaries will continue with about 13 local and foreign companies, some of which are listed and others operational in various sectors of petrochemicals and support services for oil and gas production, with a value of KD 738.5 million.
KPC monitors these investments in a manner of ownership rights. KPC directly or indirectly owns a stake in the capital of those companies that does not exceed 49.9 percent, and whose headquarters are located inside and outside Kuwait. The data showed that KPC’s largest investment is in SK Peak in South Korea at a value of KD 148.8 million, and then a stake in SK Advance at a value of KD 40.6 million, which is the acquisition deal carried out by the Petrochemical Industries Company to acquire 49 percent of the existing specialized petrochemical plants that are owned by the Korean company SKC.
KPC’s contribution to Al-Oula Fuel Company and Al-Soor Company for Local Fuel Marketing is 24 percent for each company, amounting to KD 17.1 million for Al-Oula Company and KD 16.4 million for Al-Soor Company. The investments of the Kuwaiti Company for Excavations amounted to 49 percent, with a value of KD 47.3 million, and the investments of the Kuwaiti-Yemeni Company (Aden) amounted to KD 12,700. KPC has a 33.3 percent stake in the Gulf Petrochemical Industries Company at a value of KD 52.22 million.
As for the investments in EQUATE Company, which amounts to 42.5 percent, the value is about KD 79.2 million. In the Equate Marketing Company in Bahrain, the value of the KPC investment in it is estimated at KD 87,100. The data also showed that the investments of the Kuwait National Petroleum Company amounted to KD 50.8 million, and the investments of KBC Holdings (Europe) amounted to KD 211.5 million.