The estimated $1,400 million project will have a nameplate capacity of 650,000 tonnes a year (t/y) of benzene and paraxylene and 500,000 t/y of monomers.
The project will use about 1.9 million t/y of naphtha as feedstock. The naphtha will be supplied from the three Kuwait National Petroleum Company oil refineries at Mina Abdullah, Mina al-Ahmadi and Shuaiba.
The local Petrochemical Industries Company (PIC)will be the sole owner of the plant, which is scheduled to be commissioned by 2005.
Shuaiba is one of two greenfield projects proposed by PIC that gained approval from Kuwait Petroleum Corporationin late July.
The other scheme, dubbed Equate II, is to have a nameplate capacity of 850,000 t/y of ethylene, 450,000 t/y of polyethylene and 430,000 t/y of ethylene glycol. The estimated $2,000 million project will be set up as a joint venture between PIC and a foreign company (MEED 3:8:01).