Petrochemical Industries Company
Key contact name
Dawood Salman Alamairi, Team Leader, Communication
Annual turnover fiscal year 2016-2017
Number of subsidiaries affiliates
Total employed: 562
Key production facilities location
Shuaiba Industrial Area
Brief company profile
PIC aspires to be a recognized global petrochemical player and to be admired by its stakeholders, leveraging Kuwaiti national resources in value-added partnerships to drive growth. As a subsidiary of Kuwait Petroleum Corporation (KPC), its mission is to achieve a position of leadership with downstream extension into high-value petrochemical businesses while ensuring integration with KPC activities both domestically and internationally.
It aims to achieve this by maximizing value-addition to Kuwait hydrocarbon resources; advancing its organizational performance through empowering people and infusing industry best practices; creating a challenging and fulfilling environment that will support skills and capabilities development; collaborating closely with its partners toward a sustained and diversified global growth; and fostering the national economy.
PIC was established in 1963 as the first chemical fertilizer complex in Kuwait. Today it is a subsidiary of Kuwait Petroleum Corporation, and its authorized capital amounts to KD600 million (about US$2 billion).
In 1989, preliminary agreements for construction of polypropylene (PP) projects were signed. In 1993, PIC signed a memorandum of understanding (MoU) to set up the world-scale olefins complex at Shuaiba Industrial Area. Production started at the end of 1997 with EQUATE. In 2002, the board of KPC approved the capital budget for the olefins second project and approved the styrene project. The construction works for these two projects were completed and production started in 2009.
Kuwait Aromatics Company was instituted in 2002 through partnership with Kuwait National Petroleum Company and Qurain Petrochemical Company, and production started in 2009. In 2004, the company announced the foundation of two joint ventures (MEGlobal and Equipolymers) with Dow Chemical.
Main products manufactured
- Polypropylene (PP)