Kuwait PIC plans third olefins plant at outlay of US$5 bln

Petrochemical Industries Co. (PIC) plans to build a third olefins plant at an outlay of US$5 bln. The facility is being planned with an estimated production capacity of over 1 mln tpa of ethylene and should be operational in 2015. PIC, a unit of state-owned Kuwait Petroleum Corp., expects to complete plans for the plant this year. PIC's current capacity at olefins I and II is about 1.65 mln tpa of ethylene and its derivatives.
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