Bahrain's GPIC exceeds export targets in last quarter

Company said that it exported 1.2 million tonnes of ammonia, urea and methanol

  
Manama: The Gulf Petrochemical Industries Company (GPIC) has exceeded its export targets and fulfilled all commitments and contractual obligations in the last quarter of 2017.

The company said that it exported 1.2 million tonnes of ammonia, urea and methanol, an increase of 1 per cent which is more than what had been planned for last year. It exported 1.18m tonnes in 2016.

A total of 73,495 metric tonnes of ammonia, 454,200 metric tonnes of methanol and 676,791 tonnes of urea were sold, and shipped to various destinations on 71 vessels during the period.

In addition, 959 metric tonnes of urea were allocated to the local market to support Bahrain’s agricultural sector.

Taiwan accounted for the largest share (17pc or 204,370 metric tonnes) of the total exports, followed by India (14pc) and the US (12pc).

GPIC president Dr Abdulrahman Jawahery said the company achieved the targets despite changes and developments in the fertiliser industry and the state of the regional and international markets.

“During the last quarter, there were several challenges, the most important being continued instability in the supply and demand balance as well as intense competition.

“We successfully overcame these challenges due to the ambitious approach of the board of directors and commitment of staff,” Dr Jawahery said.

“GPIC is keen not only to achieve success but also strives to excel in every way to maintain the confidence of customers and win global awards.

“We continue our march towards more milestones and build on the gains to maintain our position as one of the leading companies regionally and globally.

Dr Jawahery said he was very proud that the company had achieved 7,639 working days, or 27 million hours, without any lost-time accident. This was in addition to maintaining the integrity of employees as the core of sustainable development.

He praised GPIC’s approach in the field of occupational safety, which is the mainstay of operations and ensures continued success, along with a commitment to protection of the environment.

Dr Jawahery pointed out the company continued the production and export process to alternative markets when faced with challenges.

He attributed this to the professional marketing plans and flexible strategies set up by the board of directors.

He also hailed Kuwait’s Petrochemical Industries Corporation, which markets ammonia and urea and the Saudi Basic Industries Company, which markets methanol.

“GPIC continues to implement plans for the development of Bahraini human resources by providing specialised training courses at home and abroad, as well as workshops on all aspects of the petrochemical industry.

Copyright 2017 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).


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