The latest establishment of Qatar Industrial Gases Company had indicated the huge potential of the industrial gas sector in the Gulf region. This project has highlighted the growing interest of foreign investors in this industry, which its development is directly connected to the petrochemical industry.
Apart from the newly formed Qatari venture, which is scheduled to start production in 2007, the Gulf region already constitutes a solid base for a number of successful industrial gases players such as the Emirates Industrial Gases Company (EIGC) and Kuwait Oxygen & Acetylene Company (KOAC) in Kuwait. The latter, together with its regional affiliates, Kuwait Industrial Gases Company (KIGC) and the Arabian Industrial Gases Company (AIGC) in the UAE are among the leading industrial gases companies in the Gulf region.
During May 2004, KIGC launched a new state-of-the-art industrial gases production plant in Shuaiba industrial zone, with an estimated cost of 7.5 million Kuwaiti Dinars (about US$25.5 million). The groundbreaking plant, which was built under the leadership of KIGC's former General Manager, Dr. Paul Karam, was realized by the participation of a foreign firm.
