28 November 2018
Petrochemicals Company of the Year
EQUATE
EQUATE is a leading light in the global petrochemicals sector. Since the company was founded, EQUATE has supported the development of the plastics industry and seen demand grow by over 450pc. EQUATE contributes to over 60pc of the value of Kuwait’s non-oil exports and is the country’s leading manufacturer of ethylene, ethylene glycol (EG) and polyethylene (PE). The world’s second largest producer of EG, in Q218, the Kuwaiti firm reported its highest second quarter earnings in its history, and, by Q3, net income stood at $1.3bn, an increase of 44pc over the same period 2017. The year to date also witnessed the company reach a record-breaking EBITDA of $1.7bn, an increase of26pc over the first
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