KPC to set up emirate’s first calcined coke plant
Posted: 02 May 2005
Kuwait Petroleum Corp (KPC) has signed a major contract with a Kuwaiti-US firm to set up the emirate's first calcined petroleum coke plant as part of a privatisation plan.
The deal with Petroleum Coke Industries Company (PCI), in which three Kuwaiti private firms own 75 per cent and US Oxbow and Minerals the rest, calls for setting up the plant at a cost of $150 million.
Construction of the plant will start in September and it will go on line in December 2006 to produce 350,000 tonnes of calcined petroleum coke a year, said Wael Al Sager of PCI.
All production is intended for export to Gulf states, Africa, Europe and Japan in addition to Australia and China.
Petroleum coke, produced in refinery coking units, is the essential raw material to produce calcined petroleum coke used in aluminum production.
PCI made the highest bid of $40 million at an auction held by KPC for the commercial licence of the plant, Sager said.
According to the contract, KPC pledges to supply raw material to the plant for 20 years. KPC chief executive officer Hani Hussein said the deal is part of a privatisation strategy aimed at bolstering the role of private firms in the emirate's oil sector.
Posted by Editor Pipeline Magazine
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