(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, May 23 (KUNA) -- Kuwait Ambassador to South Korea Jassim Al-Bedaiwi participated Monday in the inauguration of a propylene production factory, established in cooperation among Korea's SK Gas Company, Saudi Advanced Petroleum Company (APCO), and Kuwait's Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation (KPC).
During the opening ceremony, the ambassador delivered a speech praising the historic moment and joint cooperation, hailing Kuwait's PIC for being the first Kuwaiti company to directly invest in the Korean republic.
Al-Bedaiwi expressed hopes that such investment project would become the gateway for Kuwaiti investment companies to engage in big and profitable projects.
Established in 1963, PIC was the first chemical fertilizer complex of its kind in the region.
Today, PIC is a subsidiary of the Kuwait Petroleum Corporation (KPC) and is a petrochemical industry leader in Kuwait and throughout the Middle East, and a growing leader worldwide.
In addition to manufacturing and marketing fertilizers, olefins and aromatics in Kuwait, we participate in multiple joint ventures that also produce and market chemicals both locally and internationally. (end) mb