KPI to celebrate commercial launch of Vietnamese refinery
KUWAIT CITY, Dec 22, (KUNA): Minister of Commerce and Industry Khaled Al- Roudhan approved a decision for the automatic registration of trademarks, said a statement Saturday. According to a statement by the ministry, decree 774/2018 will be put into effect next Sunday.
The decision was in line with the ministry’s integrated electronic services aimed at facilitating procedures for business owners, companies and individuals, added the statement, revealing that the process could be done online at the (ifta.gov.kw) portal. The registered trademark, available as a QR code, is certified and there will be no need for physical stamps or signatures, affirmed the ministry.
Meanwhile, Kuwait Petroleum International is to celebrate the launch of its official and commercial operations at Nghi Son refinery and petrochemical complex in Vietnam on Sunday.
The joint Kuwaiti-Vietnamese oil refinery obtained a preliminary approval to start after completing trial operations, KPI stated to KUNA Saturday.
A Kuwaiti high-level oil delegation, headed by the company’s CEO Nabil Bourisli, is set to attend the launching ceremony in Thanh Hoa province, northern Vietnam, said KPI. The event will be held under the auspices and presence of Vietnamese Prime Minister and participation of Kuwaiti Embassy in Hanoi and a Japanese high-level delegation, it added.
The joint company was established as the owner of the refinery and petrochemical complex project in Vietnam, where KPI owns a 35.1 percent share, Japan’s Idemitsu Kosan owns a 35.1 percent share, PetroVietnam owns a 25.1 percent share, and Japan’s Mitsui owns a 4.7 percent share, it noted.
The project’s investment capital is estaimated at around $nine billion, KPI said, adding the refinery was designed to process Kuwaiti crude with a capacity of up to 200,000 barrels a day. For his part, Bourisli expressed his pride of the great efforts exerted by KPI’s staff and the project’s workers in making such a signifi- cant progress, lauding their dedication to overcome all challenges and difficulties.
He also thanked Oil Minister and Minister of Electricity and Water Eng Bakheet Al-Rashidi, Kuwait Petroleum Corporation, and KPC’s CEO for their continued support and pivotal role in attaining such unprecedented achievement.