Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- PCIC to establish new projects totaling KD 4 mln  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 24/04/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Kuwait News Agency (KUNA)) PCIC is working on establishing new projects to expand its storage capacity with a total value of KD 4 million, Chairman and Managing Director of Petroleum Coke Industries Company (PCIC) Riyadh Al-Saleh said Wednesday.

After a PCIC general assembly meeting, Al-Saleh said that such projects aim to establish storage for coal that is purchased from Kuwait National Petroleum Corporation, based on a manufacturing agreement with them.

The chairman noted that the company made a profit during 2013 when compared to the previous year, adding the petroleum coal industry is preparing to execute a project to modernize and develop its export capacity tanks and launch infrastructure construction for workshops, operating rooms, operators, and safety and security operators.

Al-Saleh explained that the company is working to complete all the projects by the end of the current fiscal year, after three years of work on construction, modification and increasing capacity.

The official added that the company's production capacity reached 99.1 percent during 2013, pointing out that the total production amounted to 347,000 tons, while energy production capacity reached 350,000 tons, and PCIC sales amounted to 359,000 tons.

Al-Saleh stressed the importance of the need to promote local products, noting that the local product is as good as its international equivelents, in its compliance with global standards.

PCIC is one of the largest single Kiln Coke Calciners in the world with a capacity to produce 350,000 MT of Calcined Petroleum Coke.

It has a long term contract with Kuwait Petroleum Company (KPC) for assured raw material to the plant for procuring about 475,000 to 485,000 MT of Green Petroleum Coke annually to produce 350,000 MT of Calcined Petroleum Coke.


Kuwait News Agency (KUNA)

  MENA News Headlines
 Oct 9 2015 - Qatar- QSE falls 34 points, bullish phase continuesGulf Times
(MENAFN - Gulf Times) Qatar Stock Exchange failed to surpass the 11,800 mark as its key index lost 34 points, after being in a bullish phase for the last three consecutive sessions.Consumer goods, ...

 Oct 9 2015 - Saudi said to order spend curbs amid oil price slumpGulf Times
(MENAFN - Gulf Times) Saudi Arabia is ordering a series of cost-cutting measures as the slide in oil prices weighs on the kingdom's budget, according to two people with knowledge of the matter.The ...

 Oct 9 2015 - KSA- SABB Q3 profit rises 7.7% to $304mnGulf Times
(MENAFN - Gulf Times) Saudi British Bank (SABB), the kingdom's fifth-largest bank by assets, posted a 7.7% rise in third-quarter net profit yesterday, in line with analyst forecasts. The bank, an ...

 Oct 9 2015 - Qatar wealth fund said interested in Glencore agriculture unit saleGulf Times
(MENAFN - Gulf Times) The sovereign wealth fund of Qatar has joined investors expressing an interest in buying a minority stake in Glencore's agriculture business, according to three people familiar ...

 Oct 9 2015 - Almost 300 Europe-bound migrants arrested in LibyaGulf Times
(MENAFN - Gulf Times) Libyan authorities said almost 300 migrants, a third of them from Senegal, were arrested Thursday as they prepared to board boats for the Mediterranean crossing to Europe."After ...

 Oct 9 2015 - Netanyahu moves to lower tensions over holy siteGulf Times
(MENAFN - Gulf Times) Prime Minister Benjamin Netanyahu has banned Israeli cabinet ministers and legislators from visiting a sensitive Jerusalem holy site where rising tensions have spilled over into ...

 Oct 9 2015 - France carries out fresh strikes against IS in SyriaGulf Times
(MENAFN - Gulf Times) France said on Friday it had carried out a second wave of strikes overnight on Islamic State targets in Syria and accused Russia of failing to target the group."Two Rafale jets ...

 Oct 9 2015 - UN envoy proposes Libya unity governmentGulf Times
(MENAFN - Gulf Times) UN envoy Bernardino Leon proposed a Libyan unity government on Friday aimed at ending years of conflict, but the plan was quickly dismissed by members of the country's two rival ...

 Oct 9 2015 - Tunisian dialogue mediators win Nobel Peace PrizeGulf Times
(MENAFN - Gulf Times) Tunisia's National Dialogue Quartet won the Nobel Peace Prize on Friday for building democracy in the country after the 2011 revolution which unleashed the Arab Spring.The award ...

 Oct 9 2015 - Four Arabs stabbed in southern Israel, Jewish suspect heldGulf Times
(MENAFN - Gulf Times) Four Arabs were stabbed in a town in southern Israel on Friday and a Jewish suspect was arrested, police said. The attacks follow a surge in knife violence by Palestinians ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help