OPEC member Kuwait has invited five Western companies to bid for preparing a feasibility study for a petrochemical project in the Gulf emirate. 

The state-owned Petrochemical Industries Company (PIC) has asked the firms to submit their bids on May 17 and invited them for a meeting on May 9 to brief them on the project, according to the Arabic language daily Alanba. 

The companies are Advisian and Wood Group of the UK, Technip of France and the US Bechtel and Fluor companies, the paper said. 

The paper said the project involves the construction of a fourth Olefins plant on the site which housed a fertilizers factory that has been sold by PIC. 

The new plant will produce basic petrochemicals products such as Polyethylene, ethylene glycol and ethanolamine, the report added. 

(Writing by Nadim Kawach; Editing by Anoop Menon)