Kuwait’s PIC to acquire 25% stake in Wanhua Chemical (Yantai) Petrochemical for $638 million
Petrochemical

Kuwait’s PIC to acquire 25% stake in Wanhua Chemical (Yantai) Petrochemical for $638 million

Wanhua Chemical signs a Joint Venture agreement with Petrochemical Industries Company

  • By ICN Bureau | April 30, 2025

Wanhua Chemical formally signed a joint venture agreement with Petrochemical Industries Company (PIC). Under the terms of the agreement, PIC invested US$638 million to acquire a 25% equity stake in Wanhua Chemical (Yantai) Petrochemical Co., Ltd.

The signing ceremony was witnessed by leaders from both parties, including Zengtai Liao, Chairman of Wanhua Chemical Group, and Shaikh Nawaf Al Sabah, Deputy Chairman and CEO of Kuwait Petroleum Corporation (KPC). The agreement was formally executed by Guangwu Kou, President of Wanhua Chemical Group, and Nadia Al Hajji, CEO of Petrochemical Industries Company (PIC).

This strategic partnership represents a significant milestone in the longstanding collaboration between Wanhua Chemical and PIC, ushering in a new chapter of mutual growth and innovation. The two companies will combine their industrial strengths and resource advantages, unlocking new avenues for cooperation across a wider range of sectors and deeper levels of synergy.

This collaboration is expected to elevate global petrochemical industry development while driving economic growth and setting a new benchmark for international cooperation in the sector.

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