Kuwait’s PIC Secures 25% Stake in China’s Wanhua Chemical Group

Kuwait’s Petrochemical Industries Company (PIC) under Kuwait Petroleum Corporation made a significant global expansion by buying 25 percent shares in China’s Wanhua Chemical Group.

While the transaction value remained undisclosed, Kuwaiti officials designated it as the biggest sector investment from Kuwait into Chinese petrochemicals so far. This agreement represents a crucial development for Kuwait’s development of high-value petrochemical products while the company moves away from its core oil-based products.

The largest Kuwaiti investment in the petrochemical sector in China!

PIC has signed a strategic agreement to acquire a 25% stake in Wanhua Chemical Group — marking a major milestone in strengthening our partnership with China and advancing our vision for global growth and… pic.twitter.com/Ukjvj80Lzb

— شركة صناعة الكيماويات البترولية (@picofficial_kw) April 26, 2025

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PIC has entered an agreement to take ownership of various industrial units belonging to Wanhua Chemical Group, which primarily concentrate on:

• Propylene oxide
• Acrylic acid
• Other specialized petrochemicals

The production facilities operate from Yantai which holds its position as a vital industrial center within eastern China. Through this acquisition PIC will access the substantial market potential for advanced chemical materials that exists in China.

According to PIC representatives the partnership stands behind Kuwait’s deliberate effort towards gaining diverse profit sources beyond crude oil exports while building new revenue streams.

Gulf countries follow a wider pattern by enhancing Asian market relationships because they seek to minimize their hydrocarbon-based economic reliance. Through acquiring ownership stakes in a leading Chinese chemical manufacturer Kuwait hopes to gain advantage in the worldwide petrochemical market.

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The agreement will provide Kuwait and China with prospects to enhance their industrial collaboration and chemical production technologies.