Kuwait – Mubasher: Petrochemical Industries Company is expected to achieve a net profit of KWD 116 in the fiscal year 2016-17, according to Kuwait News Agency (KUNA) citing statements by the company’s CEO, Mohammed Abdullatif Al-Farhoud.
“The company’s profits rose in 2015-16 by 141% or KWD 263 million to KWD 431 million from KWD 168 million in the previous year,” Al-Farhoud said.
The CEO attributed the rise in profit to EQUATE Petrochemical Company’s acquisition on MI Global.
Al-Farhoud asserted that the company put a plan for a safe exit from the fertilisers sector while saving the rights of workers and benefiting from expertise in supporting the company’s future projects.
