Gulf Cryo and EQUATE Petrochemical Company joined forces to create the first commercial carbon dioxide (CO2) plant in Kuwait, which has now officially been inaugurated.
An official ceremony signified the launch of the plant earlier this week, but the business partnership between the two companies began back in 2004, with Gulf Cryo commencing operations at the facility in 2014.
The plant has the capacity to produce 280 tonnes per day (tpd) of CO2, and is aimed at achieving a number of economic, industrial and environmental added-values for overall sustainability in Kuwait.
The collaboration involves EQUATE providing the plant with raw CO2, and Gulf Cryo, a leading manufacturer of industrial, medical and specialty gases in the Middle East and North Africa (MENA) region, then enhancing its quality. It is understood that the CO2 can then be used in other, various commercial applications.
”It is not only about having the first plant, it is also relevant to building on this development to secure additional progress and growth.”
Saad Al-Shuwaib, Vice Chairman of Gulf Cryo, emphasised, “The CO2 plant is a pioneering environmental initiative to preserve and protect Kuwait’s environment. This plant is truly a milestone as it is partnership between two private entities that resulted in establishing the plant within record time, while maintaining global best practices through utilising the latest technology to manufacture high quality products.”
Mohammad Husain, President and CEO of EQUATE, reinforced, “Our partnership with Gulf Cryo is about sustainability-based environmental excellence to protect the environment by reducing the carbon footprint and replacing conventional CO2 sources. It is not only about having the first plant, it is also relevant to building on this development to secure additional progress and growth.”
gasworld Business Intelligence estimated that the Kuwaiti industrial gas market generated revenues of just over $100m in 2014. The market is expected to witness solid growth over the next five years, and should achieve revenues of between $145m and $190m by the year 2020.