Article: Kuwait and Chemical JVs

Kuwait's involvement there began in October 1985, when gas development was estimated to cost $500m. Santa Fe Minerals (Asia) acquired a 15% equity in a 25-year contract. KPC's engineering division had been working on a feasibility study for its Petrochemical Industries Co. (PIC) and China Offshore Gas Utilisation Co. for a 500,000 t/y ammonia plant to be built on Hainan island, using the Yacheng gas. This was to be PIC's second major venture in China. The first JV was the Sino-Arab Chemical Fertiliser Co (SACF) in which PIC had 30%. The other partners were the Kuwaiti-Tunisian Societe Industrielle d'Acide Phosphorique et d'Engrais (SIAPE), with 40% held by the China ...

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