Kuwait Petrochemical Industries, a subsidiary of Kuwait’s state-owned oil company, has signed an agreement to acquire a 25% stake in China’s Wanhua Chemical Group. While the deal value was not disclosed, it marks Kuwait’s largest investment in China’s petrochemical sector. As part of the agreement, Kuwait will acquire several of Wanhua’s industrial units in Yantai, focusing on the production of high-value petrochemicals such as propylene oxide and acrylic acid. The move aims to diversify Kuwait’s product portfolio.

Source: Echemi