KUWAIT: Chairman of the Board of Qurain Petrochemicals Industries Company Sheikh Mubarak Abdallah Al-Mubarak Al-Sabah resigned his post following the announcement by Kuwait projects company -Holding - (KIPCO) and Qurain petrochemicals industries about a preliminary agreement to merge. Sheikh Mubarak Al-Sabah was Chairman of Qurain since it was founded - over 15 years, and was one of the company's success pillars as chairman.
The company witnessed a record development and became a landmark in the private sector and in the state, next to the prestigious companies in Kuwait Bourse. Informed sources said the resignation was due to his reservations towards the takeover in which there will be so much harm to small shareholders in Qurain Petrochemical Industries Company.