KUWAIT CITY, Aug 10: EQUATE Petrochemical Company, Kuwait’s first international joint-venture in this industry, continued its global growth through its wholly owned subsidiary MEGlobal with the groundbreaking of a new world-scale ethylene glycol (EG) manufacturing facility in Freeport, Texas, USA. With this plant, EQUATE is the first Kuwaiti petrochemical company to invest in the USA. EQUATE is the world’s second largest EG producer with 12% of the global market share.
The new facility, to be completed during 2019, will increase EQUATE’s monoethylene glycol (MEG) capacity by 750,000 metric tons annually (MTA) and will enhance EQUATE’s global presence to meet customer needs. Through its existing plants in Kuwait and Canada, EQUATE’s current EG production capacity exceeds 2 million MTA. The plant will utilize Dow’s METEOR technology as part of its production process.
The groundbreaking was attended by senior officials from Kuwait Petroleum Corporation (KPC), Petrochemical Industries Company (PIC), EQUATE, MEGlobal and the State of Texas. On the sidelines of the groundbreaking ceremony, attendees toured Dow’s USA Gulf Coast cracker construction at the adjacent Oyster Creek site. EQUATE President & CEO Mohammad Husain said, “Building on our acquisition of MEGlobal during 2015, this step is part of our strategic expansion plans as an international petrochemical enterprise. The new facility will benefit from overall integration in terms of low cost advantaged shale-gas, strategic location, feedstock availability and operational excellence. The new plant will enable us to meet rising demand for EG throughout the world, especially in the USA and Asia. We are pleased to be the first Kuwaiti petrochemical company to have an industrial investment in the USA through this EG facility.” MEG 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.
Established in 1995 as Kuwait’s first international joint-venture, EQUATE Petrochemical Company (EQUATE) embodies its “Partners in Success” slogan through the partnership between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is currently the owner and single-operator of several fully integrated world-class petrochemical units, within the Greater EQUATE joint-venture, that annually produce over 5 million tons of the highest quality grades of Ethylene, Polyethylene (PE), Ethylene Glycol (EG), Polypropylene (PP), Styrene Monomer (SM), Paraxylene (PX), Heavy Aromatics (HA) and Benzene (BZ). The products are marketed throughout the Middle East, Asia, Africa and Europe.
Alongside being a leading industrial organization, EQUATE dedicates its utmost commitment and care to overall sustainability wherever it operates in cooperation with public and private bodies, including employees, society and customers, in all relevant fields, such as human development, environment, education, health and public awareness. www.EQUATE.com