Company News

Equate boasts higher second quarter profit
Equate Petrochemical Company and The Kuwait Olefins Company (TKOC) say that their combined profits for the first quarter of 2010 reached US$222 million.

Commenting on this, Equate CFO Abdulkarim Mubarak said the results were realised due to the petrochemical market’s noticeable positive performance and the company’s performance. During 2010, the plants were operated at their full production capacity for the first time since start-up.

Equate is the single operator of Greater Equate, which includes TKOC, Kuwait Paraxylene Production Company (KPPC) and the Kuwait Styrene Company (TKSC).