(MENAFN) Kuwaiti Equate Company's President and CEO, Mohammad Hussein, stated that the GCC countries export over 80 percent of their combined petrochemical production, reported Kuwait News Agency (KUNA).
Hussein said that currently, petrochemicals output of countries of the Gulf Cooperation Council (GCC) surpasses 100 million metric tons on annual basis.
He noted that petrochemical production faces several obstacles, including the availability of feeding fuel, lack of human resources, difficulties of shipment and export as a result of crowded ports and shortage in infrastructure in most of the region's ports, in addition to the instability of markets and the requirement for electricity production in the region and natural substances like gas.
It is worth noting that Kuwait's share in the overall GCC output is at around 6 percent, a figure that is attributable to the failure of the establishment of a number of big projects since the initiation of all production units of Equate two years ago.
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