Equate provides update on ongoing projects

Equate added that these projects, to be run as one entity dubbed "Greater Equate," will group three additional companies: The Kuwait Olefins Company (TKOC), The Kuwait Styrene Company (TKSC) and Kuwait Paraxylene Production Company (KPPC) together under one operational umbrella.

Equate will be the single operator of the assets that are expected to produce over 5 million tons per year of high quality petrochemicals. The projects include an increase in Equate's current Polyethylene (PE) production capacity and a new Ethylene Glycol (EG) unit.

In August 2008, Greater Equate successfully kicked off commercial operations of a new EG production unit with a production capacity of 600,000 metric tons annually (MTA). This new plant is the largest single-train EG plant in the world utilizing The Dow Chemical Company's METEOR technology.

Then in November of 2008, Greater Equate started operations of its second ethane steam cracker bringing ethylene production capacity to approximately 1.7 million MTA.

In 2009, the startup of additional units will follow, beginning with Ethyl Benzene-Styrene Monomer (EBSM) in 2Q09 followed closely by the PE expansion in early 3Q09 and the Aromatics unit that will provide paraxylene for merchant sales, in addition to benzene as feedstock for the styrene unit.

Sales of Greater Equate's products are expected to be spread throughout the Middle East, Africa, Asia and Europe.