GPIC, PIC delegation visits Thailand

GMT 03:14 2014 Thursday ,13 November

Arab Today, arab today GPIC, PIC delegation visits Thailand

Petrochemical Industries Company (PIC)
Bangkok - BNA

Officials from the Gulf Petrochemical Industries Company (GPIC) and the Petrochemical Industries Company of Kuwait (PIC) visited Thailand to discuss ways to enhance co-operation with Thai companies on imports of urea and ammonia.
GPIC President Dr. Abdulrahman Jawahery said the visit came as a result of their efforts to forge closer ties with Thai companies, which are among the largest importers of GPIC products. This, he said, is the result of very high demand in Thailand and their keenness to import products from the GPIC, which is well known in setting up its safety standards, occupational health systems and operational efficiency.
Dr. Jawahery said the visit also came on the directives of His Majesty King Hamad who, during his recent visit to Thailand, had invited Bahraini companies to set up businesses with Thailand and establish constructive relations between the two countries. He said Thailand offered a promising Asian market for Bahraini companies and added Bahrain could benefit from Thai experts’ specialised experience.
Dr. Jawahery said: "I have had the privilege to accompany His Majesty to Thailand as part of Bahrain’s business delegation and witnessed his keen will to enhance co-operation between the two nations." He said several trade and economic agreements were also signed between Bahrain and Thailand during the visit.
Dr. Jawahery said the visit of the GPIC-PIC delegation co-incided with the visit of His Royal Highness Prince Khalifa bin Salman Al Khalifa, the Prime Minister to Thailand. This visit, he said, came within the Bahrain government’s efforts to strengthen relations and to create a Thai Trade Centre in Bahrain to boost cooperation and participation in the area of food security.
Dr. Jawahery praised the role of the PIC in marketing the company’s products and efforts by the Kuwaiti company in this regard. He pointed that its professionalism and experience had helped find willing markets for the GPIC produced urea as well as get good prices. This, he said, had motivated them to work harder and come closer to forge stronger links.
He also praised the PIC for not just being main partners in the company but also the sole marketer for the company's products of ammonia and granular urea.
Dr. Jawahery said the GPIC recently achieved the distinction of having exported 10 million metric tons of urea granules since its inception in 1998. This, he said, was due to the strong support of the company’s Board of Directors, which is capable of setting up strategic plans to overcome obstacles. The achievement was also due to the efficiency of the company's employees who worked long hours under extremely difficult circumstances, including high temperatures and humidity levels.
The 10 million tonne mark, he said, was achieved as the GPIC sent out shipment No. 341 for export. The GPIC and the PIC executive management also held a ceremony to mark the occasion.
The GPIC has so far exported 1,040,796 metric tons of urea to Thailand since the beginning of production and exports in 1998. The United States, he said, is one of the largest importers at about 4.6 million tons (46 per cent of production), followed by Oceania with 20 per cent, and the Far East by 14 per cent.
The company's total exports of urea this year, until the end of October, were 550,000 metric tons. It is expected to reach its planned level this year to 678 000 metric tons, representing an increase of 3.8 per cent in total exports, compared with 2013.
He said the GPIC and the PIC have strived to promote joint visits, which aim to achieve greater co-ordination, cooperation and integration.
The GPIC is a joint venture between the GPIC, the PIC and the Saudi Basic Industries Company, with each owning 33.3 per cent of the shares.

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