Kuwait, Bahrain Ink Deal to Build Joint Fragrance FactorySource: www.export-egypt.com 10/30/2016, Location: Middle East |
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Kuwait's Petrochemical Industries Company (PIC) inked a deal Sunday with Bahrain's National Oil and Gas Authority (NOGA) to build a joint fragrance factory in the Kingdom with an annual production capacity of 1,44 tons.
The deal was made during a meeting held earlier between visiting Bahraini Oil Minister Sheikh Mohamed bin Khalifa Al-Khalifa and Kuwaiti Acting Deputy Prime Minister and Minister of Finance and Minister of Oil Anas Al-Saleh, Mohammad Al-Farhoud, IPC's Chief Executive Officer and Board member of Directors, stated to KUNA. The agreement, which is based on the two countries' partnership, includes secondary products, Al-Farhoud noted, adding that details regarding that matter are to be discussed between the two sides later. It is the second partnership in petrochemicals between Kuwait and Bahrain following a previous successful one with Gulf Petrochemical Industries Company (BSC), in which the Kuwaiti company owns around 33.3 percent, he noted. |
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