Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

'Aromatics' Plan

KUWAIT CITY () -- Petrochemical Industries Company on Monday said it is ready to proceed alone with a vast "aromatics" plant after the suspension of joint venture talks with Amoco.

PIC chairman and managing director Khaled Buhamrah said his company is close to completing the feasibility study for the plant to produce hi-tech oil derivatives, known in the trade as aromatics, at a cost of $1.2 billion to $1.7 billion.