(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 curret 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.