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PIC
HISTORY TIMELINE

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1963

PIC was established in 1963. It is currently a subsidiary of Kuwait Petroleum Corporation (KPC)…

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1974

In 1974 PIC acquired salt and chlorine plants from Ministry of electricity and water…

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1993

In 1993, the company signed a memorandum of understanding with Union Carbide to build a petrochemical complex…

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2008

The Kuwait Olefins Company (TKOC) between PIC (42.5%), The Dow Chemical Company (TDCC) (42.5%) with local private participation …

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2015

Shareholder of Equate and MEglobal decided to re structure their investments of the two companies.

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2019

In 2019, PIC signed an agreement to acquire 49% of the chemicals business of the SK Chemicals “SKC”, Korea. ….

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1967

In 1967, Kuwait’s first chemical fertilizer complex was operated in The Shuaiba Industrial Zone….

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1979

Founded in 1979, Gulf Petrochemical Industry Company (GPIC) is equally involved…

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1995

Foundation of Equate factories was laid in 1995 in Kuwait….

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2009

The Kuwait Aromatics Company (TKAC) Between KNPC (60%), PIC (20%) and Qurain (20%)…

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2016

In 2016, PIC acquired 25% interest in SK Advanced Company existing plants in South Korea…

Know More

2019

The opening of the ethylene glycol production plant in Texas, USA, for ME Global ….

Know More

1970

During the 1970s, the manufacturing capacity was expanded as a new fertilizer plant….

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1980

In 1980, Petrochemical Industries Company became the largest chemical company in the Arabian Gulf region….

Know More

 

1997

PIC commissioned its Polypropylene Plant and EQUATE commissioned their Polyethylene

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2011

In 2011 equipolymers was mergered and become fully owned by MEGlobal
…

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2017

In 2017, PIC entered Joint Venture Agreements with Pembina Pipeline Corporation (Pembina)….

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2020

The Petrochemical Industries Company (PIC) announced the start of taking over the operations of the Kuwait-based wholly-owned polypropylene plan, which was operated by “EQUATE”, ….

Know More

1972

In 1972, the Government of Kuwait gradually transformed the Petroleum Chemical Industry Company….

Know More

 

1985

The Petroleum Chemical Industry Company of GPIC began production and commissioned its fertilizer plants in 1985….

Know More

2004

In 2004 PIC entered into a Joint Ventures and established the following companies in Kuwait….

Know More

2013

The company celebrates the Golden Jubilee
…

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2018

Kuwait-Vietnam Petrochemical Company (KVPC) was established on 22nd December 2017 to market petrochemical products in Vietnam and South East Asia.

Know More

1963

PIC was established in 1963. It is currently a subsidiary of Kuwait Petroleum Corporation (KPC)…

Know More

1967

In 1967, Kuwait’s first chemical fertilizer complex was operated in The Shuaiba Industrial Zone….

Know More

1970

During the 1970s, the manufacturing capacity was expanded as a new fertilizer plant….

Know More

1972

In 1972, the Government of Kuwait gradually transformed the Petroleum Chemical Industry Company….

Know More

1974

In 1974 PIC acquired salt and chlorine plants from Ministry of electricity and water…

Know More

1979

Founded in 1979, Gulf Petrochemical Industry Company (GPIC) is equally involved…

Know More

 

1980

In 1980, Petrochemical Industries Company became the largest chemical company in the Arabian Gulf region….

Know More

 

1985

The Petroleum Chemical Industry Company of GPIC began production and commissioned its fertilizer plants in 1985….

Know More

1993

In 1993, the company signed a memorandum of understanding with Union Carbide to build a petrochemical complex…

Know More

 

1995

Foundation of Equate factories was laid in 1995 in Kuwait….

Know More

 

1997

PIC commissioned its Polypropylene Plant and EQUATE commissioned their Polyethylene

Know More

2004

In 2004 PIC entered into a Joint Ventures and established the following companies in Kuwait….

Know More

2008

The Kuwait Olefins Company (TKOC) between PIC (42.5%), The Dow Chemical Company (TDCC) (42.5%) with local private participation …

Know More

2009

The Kuwait Aromatics Company (TKAC) Between KNPC (60%), PIC (20%) and Qurain (20%)…

Know More

2011

In 2011 equipolymers was mergered and become fully owned by MEGlobal
…

Know More

2013

The company celebrates the Golden Jubilee
…

Know More

2015

Shareholder of Equate and MEglobal decided to re structure their investments of the two companies.

Know More

2016

In 2016, PIC acquired 25% interest in SK Advanced Company existing plants in South Korea…

Know More

2017

In 2017, PIC entered Joint Venture Agreements with Pembina Pipeline Corporation (Pembina)….

Know More

2018

Kuwait-Vietnam Petrochemical Company (KVPC) was established on 22nd December 2017 to market petrochemical products in Vietnam and South East Asia.

Know More

2019

In 2019, PIC signed an agreement to acquire 49% of the chemicals business of the SK Chemicals “SKC”, Korea. ….

Know More

2019

The opening of the ethylene glycol production plant in Texas, USA, for ME Global ….

Know More

2020

The Petrochemical Industries Company (PIC) announced the start of taking over the operations of the Kuwait-based wholly-owned polypropylene plan, which was operated by “EQUATE”, ….

Know More

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P.O Box 1084 Safat, 13011, Kuwait
+965 23851000

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PIC was established in 1963. It is currently a subsidiary of Kuwait Petroleum Corporation (KPC), a governmental umbrella organization for Oil Sector Companies, headquartered in Kuwait City. PIC’s authorized capital is KD 600 million.

In 1974 PIC acquired salt and chlorine plants from Ministry of electricity and water

In 1993, the company signed a memorandum of understanding with Union Carbide to build a petrochemical complex in The Shuaiba Industrial Zone, and production began in late 1997 with EQUATE Petrochemical Company

The Kuwait Olefins Company (TKOC) between PIC (42.5%), The Dow Chemical Company (TDCC) (42.5%) with local private participation of Bubyan Petrochemical Company ( 9%) and Qurain Petrochemical Industries Company ( 6%) for producing Ethylene Glycol. TKOC began production in late 2008.

Shareholder of Equate and MEglobal decided to re structure their investments of the two companies. EQUATE acquired MEGlobal and become 100% owner of the company

In 2019, PIC signed an agreement to acquire 49% of the chemicals business of the SK Chemicals “SKC”, Korea. The agreement stipulates establishing a joint venture company between the two parties in Propylene Oxide and Propylene Glycol Business segment. In 29 February 2020 the deal was successfully closed and new Joint Venture company SK picglobal formed.

In 1967, Kuwait's first chemical fertilizer complex was operated in The Shuaiba Industrial Zone, and over the years the factories have been expanded, modernized and their production capacity improved.

Founded in 1979, Gulf Petrochemical Industry Company (GPIC) is equally involved between The Oil and Gas Holding Company of Bahrain, (SABIC) of Saudi Arabia and The Petroleum Chemical Industry Company of Kuwait, which began production in 1985.

Foundation of Equate factories was laid in 1995 in Kuwait, which is 42.5% owned by the Petrochemical Industries Company.

The Kuwait Aromatics Company (TKAC) Between KNPC (60%), PIC (20%) and Qurain (20%) for producing Paraxylene and Styrene. Production began in early 2009.

In 2016, PIC acquired 25% interest in SK Advanced Company existing plants in South Korea through a joint venture agreement with Korean SK Gas and Saudi AGIC for producing Propylene. The Propylene plant was inaugurated on 14th May 2016.

The opening of the ethylene glycol production plant in Texas, USA, for ME Global, a wholly owned subsidiary of Equate Petrochemical Company, in which the PIC owns 42.5%

During the 1970s, the manufacturing capacity was expanded as a new fertilizer plant was built in The Shuaiba Industrial Zone.

In 1980, Petrochemical Industries Company became the largest chemical company in the Arabian Gulf region, and became a major player in the world chemical fertilizer market, exporting its products to more than 42 countries around the world and at the same year, the Company and The Kuwait National Petroleum Company (KNPC) were merged under the umbrella of Kuwait Petroleum Corporation

PIC commissioned its Polypropylene Plant and EQUATE commissioned their Polyethylene and Ethylene Glycol plants.

In 2011 equipolymers was mergered and become fully owned by MEGlobal

In 2017, PIC entered Joint Venture Agreements with Pembina Pipeline Corporation (Pembina) a Calgary, Canada based company for building a Polypropylene plant in the province of Alberta, Canada.

The Petrochemical Industries Company (PIC) announced the start of taking over the operations of the Kuwait-based wholly-owned polypropylene plan, which was operated by "EQUATE", where in the first hour of the new year 2020, the safe operation of the plant along with its full production capacity was transitioned according to the approved schedules of the operational transition plan, in a unique experience that signifies a new achievement for the two companies.

In 1972, the Government of Kuwait gradually transformed the Petroleum Chemical Industry Company into a wholly state-owned enterprise, where it initially acquired the interests of the investors in the company and four years later it bought their entire stake to become the company wholly state-owned.

The Petroleum Chemical Industry Company of GPIC began production and commissioned its fertilizer plants in 1985

In 2004 PIC entered into a Joint Ventures and established the following companies in Kuwait. In 2004, PIC acquired Interests in The Dow Chemical Company’s plants in Canada and Germany and established joint ventures named MEGlobal and Equipolymers for producing Ethylene Glycol and PET respectively with equal shares. Equipolymers was later merged into MEGlobal and MEGlobal was subsequently sold to EQUATE in 2017.

The company celebrates the Golden Jubilee

Kuwait-Vietnam Petrochemical Company (KVPC) was established on 22nd December 2017 to market petrochemical products in Vietnam and South East Asia. The company is fully owned by PIC and is currently marketing Polypropylene from NSRP Plant, a strategic joint venture between the State of Kuwait, Japan and Vietnam.

PIC was established in 1963. It is currently a subsidiary of Kuwait Petroleum Corporation (KPC), a governmental umbrella organization for Oil Sector Companies, headquartered in Kuwait City. PIC’s authorized capital is KD 600 million.

In 1967, Kuwait's first chemical fertilizer complex was operated in The Shuaiba Industrial Zone, and over the years the factories have been expanded, modernized and their production capacity improved.

During the 1970s, the manufacturing capacity was expanded as a new fertilizer plant was built in The Shuaiba Industrial Zone.

In 1972, the Government of Kuwait gradually transformed the Petroleum Chemical Industry Company into a wholly state-owned enterprise, where it initially acquired the interests of the investors in the company and four years later it bought their entire stake to become the company wholly state-owned.

In 1974 PIC acquired salt and chlorine plants from Ministry of electricity and water

Founded in 1979, Gulf Petrochemical Industry Company (GPIC) is equally involved between The Oil and Gas Holding Company of Bahrain, (SABIC) of Saudi Arabia and The Petroleum Chemical Industry Company of Kuwait, which began production in 1985.

In 1980, Petrochemical Industries Company became the largest chemical company in the Arabian Gulf region, and became a major player in the world chemical fertilizer market, exporting its products to more than 42 countries around the world and at the same year, the Company and The Kuwait National Petroleum Company (KNPC) were merged under the umbrella of Kuwait Petroleum Corporation

The Petroleum Chemical Industry Company of GPIC began production and commissioned its fertilizer plants in 1985

In 1993, the company signed a memorandum of understanding with Union Carbide to build a petrochemical complex in The Shuaiba Industrial Zone, and production began in late 1997 with EQUATE Petrochemical Company

Foundation of Equate factories was laid in 1995 in Kuwait, which is 42.5% owned by the Petrochemical Industries Company.

PIC commissioned its Polypropylene Plant and EQUATE commissioned their Polyethylene and Ethylene Glycol plants.

In 2004 PIC entered into a Joint Ventures and established the following companies in Kuwait. In 2004, PIC acquired Interests in The Dow Chemical Company’s plants in Canada and Germany and established joint ventures named MEGlobal and Equipolymers for producing Ethylene Glycol and PET respectively with equal shares. Equipolymers was later merged into MEGlobal and MEGlobal was subsequently sold to EQUATE in 2017.

The Kuwait Olefins Company (TKOC) between PIC (42.5%), The Dow Chemical Company (TDCC) (42.5%) with local private participation of Bubyan Petrochemical Company ( 9%) and Qurain Petrochemical Industries Company ( 6%) for producing Ethylene Glycol. TKOC began production in late 2008.

The Kuwait Aromatics Company (TKAC) Between KNPC (60%), PIC (20%) and Qurain (20%) for producing Paraxylene and Styrene. Production began in early 2009.

In 2011 equipolymers was mergered and become fully owned by MEGlobal

The company celebrates the Golden Jubilee

Shareholder of Equate and MEglobal decided to re structure their investments of the two companies. EQUATE acquired MEGlobal and become 100% owner of the company

In 2016, PIC acquired 25% interest in SK Advanced Company existing plants in South Korea through a joint venture agreement with Korean SK Gas and Saudi AGIC for producing Propylene. The Propylene plant was inaugurated on 14th May 2016.

In 2017, PIC entered Joint Venture Agreements with Pembina Pipeline Corporation (Pembina) a Calgary, Canada based company for building a Polypropylene plant in the province of Alberta, Canada.

Kuwait-Vietnam Petrochemical Company (KVPC) was established on 22nd December 2017 to market petrochemical products in Vietnam and South East Asia. The company is fully owned by PIC and is currently marketing Polypropylene from NSRP Plant, a strategic joint venture between the State of Kuwait, Japan and Vietnam.

In 2019, PIC signed an agreement to acquire 49% of the chemicals business of the SK Chemicals “SKC”, Korea. The agreement stipulates establishing a joint venture company between the two parties in Propylene Oxide and Propylene Glycol Business segment. In 29 February 2020 the deal was successfully closed and new Joint Venture company SK picglobal formed.

The opening of the ethylene glycol production plant in Texas, USA, for ME Global, a wholly owned subsidiary of Equate Petrochemical Company, in which the PIC owns 42.5%

The Petrochemical Industries Company (PIC) announced the start of taking over the operations of the Kuwait-based wholly-owned polypropylene plan, which was operated by "EQUATE", where in the first hour of the new year 2020, the safe operation of the plant along with its full production capacity was transitioned according to the approved schedules of the operational transition plan, in a unique experience that signifies a new achievement for the two companies.