PIC and Wanhua Chemical launch petrochemicals partnership

PIC and Wanhua Chemical officially launch petrochemicals partnership

YANTAI, September 25, 2025 – Kuwait’s Petrochemical Industries Company (PIC) and China’s Wanhua Chemical Group have formally launched the Wanhua-PIC Petrochemicals partnership project with the signing of a new strategic MoU, the companies announced on Wednesday

In April 2025, PIC acquired a 25% stake in select assets of the Wanhua Chemical Group in the Yantai petrochemical complex for USD 638 million, Kuwait’s largest petrochemicals investment in China and a cornerstone of PIC’s expansion strategy in high-growth Asian markets.

The new MoU reinforces the commitment by PIC and Wanhua Chemical to explore new investment opportunities for sustainable growth and expand the scope of their economic and industrial collaboration in petrochemicals.

“This project strengthens our global presence and deepens our collaboration with one of the world’s most respected chemical companies. Yet beyond its scale, it represents a bridge linking Kuwait and China in pursuit of shared prosperity,” said PIC CEO Nadia Alhajji.

As the petrochemicals arm of KPC, PIC pursues international partnerships and investments to further Kuwait’s capabilities and standing in global petrochemicals markets. The company’s portfolio includes production assets in the Middle East, Asia, North America and Europe.

Wanhua Chemical produces polyurethane, petrochemicals, speciality chemicals and advanced materials, and has been an industrial partner to PIC since 2013. The company recently signed a long-term LPG supply contract with KPC.

Photo courtesy of PIC

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