Kuwaiti petrochemical major Equate plans to more than double output by 2004, at an estimated outlay of up to Dh11 billion, Gulf News reported Wednesday.
Mohammed Al Hasawi, vice-president (commercial) was quoted by the daily as saying that "for the ambitious expansion will use the earlier strategy in which shareholders will extend 40 percent and commercial banks providing the remainder," noting that the Equate II project will produce petrochemical products such as polyethylene, ethylene glycol, polypropylene and aromatics such as benzene, styrene and toluene
The company has produced an annual one million tons of petrochemical products since it began operating in 1997 -- Albawaba.com
