Kuwait signs MoU with China to boost petrochemical co-operation
Deal focuses on joint innovation, global market growth, and integration of high-value products under PIC’s long-term strategic expansion plan
KUWAIT CITY, Kuwait (MNTV) – Kuwait’s Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation (KPC), signed a memorandum of understanding on Sunday with China’s Wanhua Chemical Group to strengthen collaboration in the petrochemical sector.
The agreement, signed at the Ahmad Al-Jaber Oil and Gas Exhibition by PIC CEO Nadia Al-Hajji and Wanhua Chemical President Qu Guangguo, aims to explore joint efforts in research and development, integrated value chains, and market expansion across high-growth regions.
The ceremony was attended by Yu Xingtao, a representative of the Chinese government in Yintai, according to a statement issued by PIC and published by the Kuwait News Agency (KUNA).
This new MoU builds upon a broader strategic agreement concluded in April, which included Wanhua’s acquisition of a 25% stake in a cluster of petrochemical facilities in Yintai, China.
The plants specialize in high-value petrochemical products such as Propylene Oxide (PO), Tertiary Butyl Alcohol (TBA), Acrylic Acid (AA), and Butyl Acrylate (BA), contributing to PIC’s efforts to diversify its product portfolio.
Al-Hajji said the partnership aligns with PIC’s 2040 strategic plan focused on smart investments and global expansion, describing the agreement as a milestone that will energize the sector and promote bilateral industrial cooperation.
She praised the contributions of joint working teams from both sides for turning strategic plans into concrete achievements, highlighting the shared commitment to long-term collaboration.
Qu Guangguo welcomed the strengthening ties with PIC, stressing that the MoU would encourage innovation, operational excellence, and mutual economic growth between Kuwait and China.
In April, PIC also announced its acquisition of a 25% stake in Wanhua’s petrochemical complex, further cementing its strategic presence in the Chinese market.
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