Equate seeing massive demand growth in domestic market

Polyethylene supplier Equate Petrochemical Company says its sales in its domestic market of Kuwait have grown 200% since 1998. The growth comes on top of what was a low base, but is indicative of the country's, and the region's, rapid demand growth, especially for plastics packaging.

Equate's president and CEO, Hamad Al-Terkait, cited the growth figures during the company's annual custom gathering, held recently. The company's sales to Kuwaiti processors have grown from 11,000 tonnes/yr in 1998 to more than 35,000 tonnes in 2009 with a value of over $30 million. "This is true embodiment of one of the core objectives behind establishing Equate, which is encouraging Kuwait's downstream industry," stated Al-Terkait, who added that last year demand in the domestic market surged 19%.

Equate, established in 1995, is a joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). —mpweditorial@cancom.com