By: Ahmad Awad
Kuwait – Mubasher: Equate Petrochemical Company has decreased its expenses during 2016 due to the consequences of lower oil prices in the past time, president and CEO of Equate Mohammad Husain.
Equate is currently focusing on expanding in the US through a new plant that is expected to start working in 2019, the CEO said on the sidelines of a press conference held on Sunday.
This new plant is considered the first Kuwaiti petrochemical investment in the US, he said.
Husain refused to comment on the news recently spread about the company’s plans to arrange issuing bonds that my worth up to $3 billion. He clarified that the listing on Kuwait Stock Exchange (KSE) is linked to the shareholders’ approval.
Translated by: Ingy ElSafy
