Interpreting the pioneer vision of its founders, United Oil Projects Company (UOP) planted the first seedlings of the resin industry in the region by setting up the first ever- manufacturing factory in 1979 under the name Kuwait Chemical Manufacturing Company (KCMC).
As the Industrial landscape evolved, UOP quickly responded by boosting the paid-up capital from 2.5 Million Kuwaiti Dinars to KD 10 Million, approximately USD 32.9 million, in 2005 to equip itself and take advantage of the growing opportunities.
Going from strength-to- strength, UOP moved into the Oil & Gas sector and initiated direct investments, alliances, and joint ventures with internationally reputed market players. Within a brief period of time, UOP was able to distinguish itself as one of the leading private Kuwaiti companies in its sector, through active, long-term investments. Among UOP’s affiliates are United Precision Drilling Company (UPDC), which specializes in drilling services, and JTC Logistics Transportation & Stevedoring Co. K.S.C.P (JTC), offering services such as Ports Management, Contract Logistics, Warehousing, Equipment Leasing, and Power Rental. Additionally, UOP’s wholly owned subsidiary, United Qmax Drilling Fluids (UQDF), concentrates on providing drilling fluids and associated services.
As UOP’s ultimate parent company, Kuwait Projects Company (Holding) – KIPCO has consistently invested and facilitated growth in the MENA region for over 30 years, employing its strategy of acquiring, building, scaling, and selling companies.
KIPCO’s main business sectors are financial services, food, petrochemicals & oil services, media, real estate and education. It’s financial service interests include commercial banking, asset management and investment banking.
