A Kuwaiti petroleum subsidiary acquires 25% of the Chinese group "Wanhua Chemical".

The petroleum chemicals industry company, a subsidiary of the state-owned Kuwait Petroleum Corporation, announced today, Saturday, that it has signed an agreement with the Chinese group "Wanhua Chemical" to acquire a 25% stake in a group of petrochemical factories located in Yantai, China. The statement did not specify the value of the deal, which is considered the largest Kuwaiti investment in the petrochemical industry in China. According to the statement, the agreement includes specialized industrial units for the production of propylene oxide, tert-butyl alcohol, acrylic acid, butyl acrylate, and several other products, contributing to diversifying the company's portfolio of high-value products.