(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Nov 4 (KUNA) -- The Petrochemical Industries Company (PIC) signed an initial agreement for a polypropylene project in Canada through the Canada Kuwait Petrochemical Corporation, said an official Saturday.
PIC CEO Mohammed Al-Farhoud said that this project in Canada was one of the major endeavors carried out by the company abroad, affirming that this will bolster Kuwait's status within the global petrochemical industry.
Jacobs Engineering Company will work on the initial design of the polypropylene project which is expected to produce around 550,000 tons annually, said Al-Farhoud, adding that engineering company will provide its initial cost assessment for the project by the fourth quarter of 2018.
In December, the Canada Kuwait Petrochemical Corporation received a conditional royalty credit of USD 300 million from Alberta Energy to go towards the project. Sturgeon County also signed a Municipal Improvement Agreement with the company. (end) mam.gta
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