Olefins II project crucial for Kuwait economy: Sheikh Ahmad

Sheikh-Sabah-Al-Ahmad-Al-Jaber-Al-SabahHis Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah has launched major petrochemicals project by EQUATE Company, at southern Al-Shuaiba Industrial Zone and hoped that it would prove a milestone for pushing the Kuwait economy.

Earlier, the Minister of Oil and Minister of Information Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah and senior oil sector officials extended rousing welcome to the Amir and expressed their gratitude for sponsoring the inauguration of the "Olefins II" project.

Other prominent personalities present on the occasion include His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, His Highness the Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah, senior Sheikhs, Deputy Chief of the National Guard Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and Acting Parliament Speaker Dlaihi Saad Al-Hajri.

The "Olefins II" aromatics and oil derivatives project and a Styrene project has been developed using cutting edge technology by spending roughly KD 1.4 billion. The Kuwait Petroleum Corporation (KPC) has also been making efforts for expanding petrochemicals, exploration and gas production sector. It would spend KD 22.7 billion for developing Kuwaiti natural gas production under the deal signed with Shell.