In 2014 GPIC PROFITS PEAK AT $190.2 MILLION

Manama 

The Gulf Petrochemical Industries Company (GPIC) made a $190.2 million net profit last year and set a new milestone of more than 18.7m work hours without a lost time accident (LTA).

The record-breaking year for the company also saw it producing 1,600,528 tonnes of Ammonia, Urea and Methanol, its highest combined annual production since inception.

Adviser to HRH the Prime Minister for Oil and Industrial Affairs and GPIC Chairman Shaikh Isa bin Ali Al Khalifa, in GPIC’s 2014 Annual Report, said, “The year was one of diverse and outstanding achievements. The most notable was the new LTA record, in the making since May 2002.”

GPIC Chairman said the achievements, together with the company’s commitment to the principles of social responsibility and continuing interest in the environment and strengthening of its financial position, had resulted it winning the Royal Society for the Prevention of Accidents (RoSPA) Excellence Award for Occupational Health and Safety and the British Safety Council Safety Award.

 “As a result of attention for issues related to the support and empowerment of women, GPIC has won, for the second time, HRH Princess Sabeeka bint Ibrahim Al Khalifa Award for Women’s Empowerment and the Arab Award for Social Responsibility,” the Chairman said.

 “Due to the exceptional efforts and outstanding contributions made in the care of the environment, the Company has also received the Saudi Arabian Award for Environmental Management.”

 Shaikh Isa said the Company’s profits and other achievements reflected the impressive performance and the safety and reliability of its factories on the one hand, and the efficiency of the Executive Management and employees on the other.

According to the annual report, GPIC has maintained close cooperation with its partners in the marketing of its products and in the smooth running of its operations. This, it says, led to a total of 1,229,025 million tonnes of the Company’s products being exported on board 66 ships last year.