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Friday, April 28, 2017
Kuwait-based Equate Petrochemical Company, a global producer of petrochemicals, highlighted latest innovations and developments in the industry at the recent GPCA PlastiCon Conference 2017.Equate’s president and CEO Mohammad Husain noted the importance of addressing trends to shift the GCC countries into a healthy balance between exports and what is consumed regionally, redefining resources, increasing technological advancement and implementing steps that will help the region to flourish. Husain said: “Today, the GCC is the leading global net exporter of polyolefin with net exports reaching 14.9 million tons in 2016, a volume that is expected to increase in the upcoming years.”“However, we have other challenges ahead of us. From urbanization, healthcare, energy efficiency, climate change to water deficit, these challenges require tailored solutions that bring new opportunities for a healthy balance,” he said.“Solutions will in return diversify our economy, create job opportunities, open new markets and elevate our manufacturing standards,” he added. At the two-day event which concluded April 10, Husain delivered the keynote address on the future of the GCC Polymer Industry, saying that changes, initiatives and developments seen in the region are reaffirming the polyolefin industry’s growth and are creating opportunities for future developments and constant innovations in the downstream business, said a statement from Equate.Taking example of the Equate model in supporting overall economic growth and sustainability, Husain added that strengths must be consolidated between the public and private sectors, and most importantly within the private sector.Through its full acquisition of the global Ethylene Glycol (EG) producer, MEGlobal, Equate propelled itself into global leadership as the world’s second largest EG producer, further confirming its position as a pioneer in petrochemicals.The company also supports research and knowledge sharing through the partnership with academic and research- institutions such as Kuwait University (KU), aiming for progress, innovation, sustainability and training of future professionals who will positively lead the industry.As part of the partnership, two students at the KU College of Petroleum and Engineering and a teaching assistant were invited to attend the conference for the opportunity to network with various delegates, it stated.
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