Manama: Bahrain-based Gulf Petrochemical Industries Company (GPIC) remained profitable last year despite the sharp decline in global prices and other market challenges, it has emerged.
The company, which is an equal stakes joint venture of Bahrain’s nogaholding, Saudi Basic Industries Corporation (Sabic) and the Petrochemical Industries Company (PIC) of Kuwait, uses locally available natural gas for the production of ammonia, granular urea and methanol – its sole products .
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