QPIC posts KD7m 2009 profit

Kuwait-based Qurain Petrochemical Industries Co (QPIC) has announced the inauguration of its new Aromatics and Olefins II Plant and revealed expansion plans both locally and globally, Al-Watan Daily has reported. The firm has posted KD7.098m ($24.85m) in net profit for the year ended December 31, 2009. QPIC's total assets during the same period grew by 35% to KD191.35m ($669.72m). The increase was attributed to the completion of three new petrochemical plants in Kuwait.