Latest news with #NadiaAlHajji
Zawya
7 days ago
- Business
- Zawya
Kuwait PIC, China's Wanhua Chemical Group sign deal to boost cooperation
KUWAIT - The Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation (KPC), signed a Memorandum of Understanding (MoU) on Sunday with Chinaآ's Wanhua Chemical Group to strengthen bilateral cooperation in the petrochemical sector. The memorandum was signed at the Ahmad Al-Jaber Oil and Gas Exhibition by PIC CEO Nadia Al-Hajji and Wanhua Chemical President Kou Guangwu, in the presence of Yantai government representative, Vice-mayor Yu Shengtao. This agreement marks a new step in the partnership between the two companies, building on a strategic agreement signed in April under which PIC acquired a 25 percent stake in several Wanhua petrochemical plants in Yantai, China. The memorandum aims to enhance collaboration across various areas, including research and development, value chain development, and expanding market reach in high-growth regions. Al-Hajji noted that this partnership aligns with PICآ's 2040 strategy of smart investments and sustainable growth, highlighting the dedication of both teams in turning plans into actionable steps. Kou Guangwu emphasized the mutual benefits of the partnership, stressing its role in fostering innovation and operational excellence to support economic growth in both countries. The Chinese delegation also toured the Ahmad Al-Jaber Exhibition, where they learned about Kuwaitآ's oil industry history, exploration, production, storage, transport, and downstream operations. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Asharq Al-Awsat
7 days ago
- Business
- Asharq Al-Awsat
Kuwait, China Sign MoU to Enhance Cooperation in Petrochemical Sector
The Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation (KPC), signed on Sunday a memorandum of understanding (MoU) with China's Wanhua Chemical Group to enhance cooperation in the petrochemical sector. The agreement was signed by PIC CEO Nadia Al-Hajji and Wanhua Chemical President Qu Guangguo at the Ahmad Al-Jaber Oil and Gas Exhibition. The signing ceremony was attended by Yu Xingtao, a representative of the Chinese government in Yintai, PIC said in a statement published by Kuwait's state-owned news agency, KUNA. The MoU aims to open new avenues for collaboration in key areas such as research and development, integrated value chains, and market expansion into high-growth regions. It also builds upon a broader strategic agreement signed between the two companies in April, which included Wanhua Chemical's acquisition of a 25% stake in a cluster of petrochemical plants in Yintai, China. Al-Hajji noted that the facilities involved in the agreement specialize in producing high-value petrochemical products, saying the partnership will invigorate the sector and foster stronger industrial cooperation between the two nations. She emphasized that the collaboration is designed to generate added value and mutual benefit. Al-Hajji said the newly signed MoU marks the beginning of a deeper partnership aligned with PIC's 2040 strategic vision, which emphasizes smart investments and planned expansion. She commended the efforts of the joint working teams from both sides, who, through months of dedication and professionalism, successfully translated strategic plans into actionable milestones. For his part, Qu Guangguo affirmed that the visit underscores the growing relationship with PIC, highlighting the MoU's role in promoting innovation, operational excellence and economic growth in both countries. In April, PIC said it has signed an agreement to acquire a 25% stake in China's Wanhua Chemical Group. The agreement includes specialized industrial units to produce Propylene Oxide (PO), Tertiary Butyl Alcohol (TBA), Acrylic Acid (AA), Butyl Acrylate (BA) and several other products, contributing to the diversification of the company's high-value product portfolio.
