GPIC KHALEEJIEH Issue 52 by GPIC

Shaikh Khalifa Bin Salman Al Khalifa Award for Excellence in Industry

Issue (52) June 2003

REG.No. IGPI 021

GPIC MAKES US$ 51 MILLION IN OPERATING PROFITS US$ 21 MILLION TO BE PAID IN DIVIDENDS TO SHAREHOLDERS COMPANY CELEBRATES GLOBAL PRODUCTION ACHIEVEMENTS

H.E. Shaikh Isa bin Ali Al Khalifa

.E. Shaikh Isa bin Ali Al Khalifa, Minister of Oil and Chairman of GPIC announced that the company had made US$ 51 million in operating profits during 2002. He added that it was decided at the company’s Annual General Meeting to pay US$ 21 million in dividends to the shareholders from Saudi Arabia and the State of Kuwait. Cont. on page 9

GPIC WINS PRESTIGIOUS MANAGEMENT AWARD

Company receives H.H. Shaikh Mohammed bin Rashid Al Maktoum’s Award for Arab Management

.E. Shaikh Isa bin Ali Al Khalifa, Minister of Oil and Chairman of GPIC announced at a press conference held on Tuesday 15 April 2003 that the company had won His Highness Shaikh Mohammed bin Rashid Al Maktoum’s Award for Arab Management. At the press conference Shaikh Isa praised this outstanding achievement by GPIC which he considered a source of pride for Bahraini industries and a significant international achievement. He paid tribute to the support and assistance received by the company from His Majesty King Hamad bin Isa Al Khalifa,King of the Kingdom of Bahrain, Cont. on pages 10 to 12

Newsletter published by the Public Relations Dept. of Gulf Petrochemical Industries Co. P.O. Box 26730, Kingdom of Bahrain Website: www.gpic.com, e-mail: gpic@gpic.com

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ANNUAL FORUM OF THE ARAB FERTILISER ASSOCIATION Chairman Announces Annual Research Award

he Arab Fertiliser Association (AFA) recently held its Annual International Forum in Egypt under the auspices of the Egyptian Prime Minister, Dr. Atef Obaid.

official representative of the Prime Minister and thanked him for his participation as chairman of the session. He also thanked the Egyptian government for their support to AFA.

Dr. Mustafa Al Sayed, General Manager of GPIC and President of AFA, addressed the inaugural session of the forum. He welcomed Mr. Ali Al Salâ&#x20AC;&#x2122;edi, Egyptian Minister of Industry and Technological Development,

In his address, Dr. Al Sayed stated that AFA enjoys the interest and participation of all Arab and international organisations involved in the fertiliser industry and trade. This has led to increased attendance figures at events such as

GPIC

Cont. on page 4

NATURAL

HERBS

STUDY

n agreement has recently been concluded between GPIC and the Bahrain Centre for Studies and Research (BCSR) to conduct a feasibility study for the development of a medicinal herbal garden at GPIC Complex. The Agreement was signed by Dr. Mohamed bin Jassim Al Ghatam, BCSR Chairman of the Board of Trustees and Dr. Mustafa Al Sayed, General Manager of GPIC.

Under the Agreement, BCSR will conduct a feasibility study to ascertain the most suitable medicinal herbal plants to be grown at the proposed site in the complex, identifying the medical and environmental benefits of such plants, drawing up a plan for developing and maintaining the proposed site, designing the necessary irrigation network and deciding methods of soil preparation and treatment for such plants. A working team has been formed to conduct this study consisting of environment and bioscience researchers. The project is scheduled for completion in the summer of 2003.

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EMPLOYEES HONOURED ON MAY DAY

nder the patronage of H.E. Dr. Majeed bin Mohsin Al Alawi, the General Union of Bahrain Workers held a major ceremony marking May Day on 1st May 2003.

employees who were honoured included Yousuf Yacoob, Ahmed Mahmood and Saleem al Qatan from the Plants Operation Department, Abdul Samad Al Ghaith from the Technical Services Department, Mohamed Jaffer from Public Relations Department and Mrs. Wedad Bahar from the Finance Department in recognition of their hard work.

During the event, outstanding and hard working employees of national companies and firms were honoured. GPIC

INNOVATIVE PROJECT MANAGEMENT

PIC participated in the 9th International Conference on Project Management held recently in Bahrain. This conference was organised under the patronage of H.H. Shaikh Khalifa bin Salman Al Khalifa, Prime Minister, by Project Management Institute of USA - Arabian Gulf Chapter, in coordination with the Bahrain Society of Engineers. GPIC was invited to present a paper on its experience in executing its internationally sized Urea project, which has received international recognition as the world’s most reliable, safe and efficient plant in the recent benchmarking conducted by ERAS Ltd. U.K., who were appointed as the consultants by the GCC Secretariat. success on a fast-track basis while adopting various innovative project management strategies and MOSIF management techniques. The conference was attended by over 1000 delegates from all over the world.

Mr. AbdulRahman Jawahery, Plants Operation Manager at GPIC presented the paper on “Innovative Project Execution Strategies”. This presentation provided an overview of the Urea project implementation and the challenges faced during execution with particular focus on how it achieved

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GPIC AT ENVIRONMENT AND ENERGY SHOW AND CONFERENCE

nder the directives of H.E. Shaikh Isa bin Ali Al Khalifa, Minister of Oil and Chairman of GPIC, the Company recently took part in the Environment and Energy Show and Conference 2003 held by the Abu Dhabi-based Public Exhibition Authority under the patronage of His Highness Shaikh Zayed bin Sultan Al Nehyan, UAE President. The show was inaugurated by His Highness Shaikh Mansoor bin Zayed bin Sultan Al Nehyan, Director of His Highness the UAE President’s office. His Higness Shaikh Zayed bin Sultan Al Nehyan, UAE President paid a visit to the GPIC stand at the show and was welcomed by Mr. Zuhair Tawfiqi, Public Relations Manager who briefed His Highness on Ammonia, Methanol and Urea production and exports and the achievements in the areas of quality, health and environment. He also explained to His Highness the environmental and charitable projects of the company such as the Charity Fish Farm, Charity Vegetable Garden, Bird Sanctuary and Palm Tree Oasis. He told His Highness that it was auspicious that the company’s participation in this show coincided with the signing by GPIC of an agreement with the Bahrain Centre for

Studies and Research to conduct a feasibility study on the most suitable medicinal herbal plants that could be grown in a garden to be established within the complex. His Highness praised the industrial development in the Kingdom of Bahrain and the government’s concern with promoting good industrial relations as a means of boosting productivity.

ANNUAL FORUM OF THE ARAB FERTILISER ASSOCIATION Cont. from pg. 2

the forum and reflects the general support for AFA throughout the Arab world.

maintenance, services, safety and environmental protection.

This interest and support, according to Dr. Al Sayed, come as a result of the abundant stock of raw materials for fertiliser production, such as natural gas, sulphur, potassium and phosphate rock, found in Arab countries. The raw materials contribute enormously to the production and marketing of fertilisers by these countries.

Dr. Al Sayed also announced that AFA will sponsor scientific research in the production and application of fertilisers. An annual award will be made for the best research paper submitted in these fields. The first award will be announced at the next AFA International Forum, to be held in January 2004.

Quoting statistics, Dr. Al Sayed mentioned that the Arab countries own one third of the world’s natural gas reserves, while their share of sulphuric acid and phosphates represented more than 65% of global trade. The export of other fertilisers ranges between 20% and 50%. It is therefore important that the Arab countries exploit this favourable position while at the same time benefiting from an Arab workforce, welltrained and skilled in operating fertiliser plants employing the latest technology for production,

Finally, Dr. Al Sayed thanked all sponsors and participants. He expressed the hope that the forum will contribute to the development of industry in individual countries, as well as to the security of food stocks worldwide. The Arab Fertiliser Association (AFA) is a nongovernmental Arab organisation established in 1975 to develop and coordinate the technical, commercial and managerial relations in the fertiliser industries amongst member companies. 4

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GPIC AT CAREER WORLD EXPO

uring the period 17-19 March 2003, GPIC took part in Career World Expo organised by the Ministry of Labour and Social Affairs in co-operation with the Rotary Clubs in Bahrain and held under the patronage of H.E. Dr. Majeed bin Mohsin Al Alawi, Minister of Labour and Social Affairs. His Excellency the Labour Minister accompanied by other ministry officials toured the stands of exhibitors. He was welcomed upon arriving at the GPIC stand by Mr. Fawzi Al Jaber, Administration Manager and senior GPIC officials. Mr. Al Jaber briefed the Minister on the company’s training plans and activities and its focus on providing post-graduate training for Bahraini nationals. Career World is designed to familiarise job-seekers, including school and university students, with the available job and career opportunities in Bahrain. GPIC also took part in Career Day Expo that was held under the patronage of Shaikha Dr. Mariam bint Hassan Al Khalifa, President of the University of Bahrain during the period from 30 March to 1 April, 20003 at the University campus in Sakhir. The University President visited GPIC’s stand where she was welcomed by Mr. Fawzi Al Jaber, Administration Manager who

briefed her on training activities and various programmes for developing skills of Bahraini employees. This exhibition gives its visitors, who include students and jobseekers, the opportunity to explore future job opportunities and available disciplines in local companies and businesses.

SUGGESTION PROGRAMME AWARENESS CAMPAIGN

Yasser A. Rahim

PIC Suggestion Programme Committee (SPC) launched a one-week awareness campaign targeted at all the company employees. The campaign’s objective was to further promote participation in the “ Brilliant Idea” Programme and to put emphasis on the need for more innovative ideas and suggestions. Committee Chairman Ahmed Nuruddin and Committee Member Yasser A. Rahim delivered lectures to all the employees to further their awareness of the importance of suggestions and to give them statistics about all the suggestions that were put forward and implemented. Since its inception 10 years ago, SPC has received more than 3,000 suggestions which have contributed to cost rationalisation and development of operations. During 2002 the programme was enhanced by the introduction of a Point Rewards system which applies to any successfully implemented suggestion and which in turn entitles its suggestor to a monetary reward. During the campaign an introduction booklet to the programme, suggestion logo stickers and T-shirts were distributed to the attendees. The campaign was well received by all the employees and has proved to be another successful GPIC staff participation event. This contributes to promoting a spirit of creativity and developing innovative ideas to increase productivity and reduce costs.

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IMPROVED PRODUCTIVITY COURSES

s part of GPIC’s efforts to continue improving and increasing productivity in different disciplines and as part of plans to develop and upgrade staff skills, GPIC organised two training courses at the Training Centre in coordination with Jaffari Consultants entitled “Methods of Improving Productivity”.

including department managers, heads of sections, engineers and representatives of the Workers Trade Union. The courses were aimed at introducing modern methods of measuring and improving productivity in different work areas. Following completion of the two courses, Dr. Mustafa Al Sayed, General Manager presented certificates to the participants.

Taking part in the two courses were 65 employees

TECHNICAL REPORT WRITING WORKSHOP

s part of the training programmes offered by the GPIC Training Centre to enhance staff skills, the Centre organised a three-day intensive workshop on technical report writing in co-operation with the Bahrain Institute of Banking and Finance.

The workshop was attended by 29 employees from various departments. The purpose of conducting this workshop was to familiarise the trainees with the modern and advanced methods of technical report writing to improve their performance at the work sites. 6

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TECHNICAL SERVICES BID FAREWELL

Ali Salman

PIC held a ceremony in honour Hussain, Ali Salman and Peter Technical Services Department retirement after their long service in

Mohammed Hussain of Mr. Mohamed Mooken of the marking their the Company.

On their part, the honourees expressed their thanks and appreciation to Dr. Mustafa Al Sayed for his concern with the companyâ&#x20AC;&#x2122;s staff members which had a positive effect on increasing their efforts and contributions to GPIC. They also thanked all the Technical Services employees for their support and cooperation with them during their service in the company.

Dr. Mustafa Al Sayed, General Manager praised their valuable contributions, loyalty to the company and cooperation with their colleagues during their service. He wished them all the best in the future.

G P I C

Peter Mooken

A N N U A L

s usual every year, GPIC held several recreational evenings over a successive three-week period at the Spring Camping site in Sakhir in recognition of the employeeâ&#x20AC;&#x2122;s sincere efforts and hard work during the year.

C A M P

Taking part in the events were folk music bands such as Al Liwa Band and Al Jirba Band. The comedian Adnan Al Dougha also took part in these events and competitions were organised. A fancy dress competition was also organised.

The events were attended by Dr. Mustafa Al Sayed, General Manager, executive management members, senior officials and many employees. The events comprised of music and songs presented by talented GPIC employees.

GPIC management is keen on organising such activities annually as they contribute to promoting a one-family spirit and promoting friendly relations among the employees outside the work environment. 7

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GPIC Trade Union Organise Six-A-Side Soccer Tournament of the employees’ family members in social and recreational events held by the company, an exhibition match was organised among the GPIC employees’ children. Dr. Mustafa Al Sayed, General Manager accompanied by Mr. Abdul Ghafar Abdul Hussain, Chairman of the General Union of Bahrain Workers and members of the executive management, presented the cup and prizes to the champions, the C Shift team. The runner-up cup and prizes were received by the Maintenance team. The player Mohamed Al Shawoosh received the best goalkeeper cup and the management team received the best team cup. The player Khalid Hassan won the tournament scorer’s title. Also honoured were the tournament’s referees and members of the Organising Commit tee. The employees’ children were given proper recognition at this spor t s event.

he GPIC Trade Union organised a six-a-side soccer tournament at Al Ahli Club g rounds for the company’s employees with the participation of 6 teams representing various departments. This tournament was organised as part of the Trade Union’s policy of providing recreational prog rammes aimed at creating a team spirit and promoting co-operation and friendly relations among the employees. Obviously, this will have a positive effect on raising productivity levels in the company.

Mr. Mohamed Al Khaja, GPIC Trade Union’s Chair man presented on behalf of the GPIC Trade Union, a token gift to Dr. Must afa Al Sayed in appreciation of his continuous suppor t for all the Trade Union’s ac tivities and company’s st aff.

In addition, with the aim of allowing participation

BLOOD

DONATION

n response to a blood donation campaign organised by the Blood Bank of Sulmaniya Medical Centre in conjunction with GPIC, many employees turned out to the company’s Medical Centre to make blood donations. A total of 66 employees gave blood. This reflects the employees humanitarian feelings and their realisation of the implication and significance of their donations.

RECORD

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Cont. from page 1

GPIC MAKES US$ 51 MILLION IN OPERATING PROFITS

The announcement by the Chairman was made on the occasion of the 24th General Meeting of GPIC shareholders.

expansion in the future in recognition of the host country the Kingdom of Bahrain.

The Chairman expressed his thanks and appreciation to the shareholders, board members and executive management and reiterated his appreciation for the close relationship between the Kingdom of Bahrain and the other shareholders. The company is undoubtedly a successful example of joint venture cooperation in the Arabian Gulf.

Marking the achievement of more than 800 days of continuous operation of the Urea and Methanol plants, achieving the highest annual production in the Ammonia plant in 2002 and the highest daily output totalling 1258 metric tons, 25% more than the original design capacity, with the assistance of the utilities plant and other departments, the company held a ceremony at the GPIC Complex, Sitra. This event coincided with the convening of the General Meeting and the Board Meeting. Present at the ceremony were members of the board of directors, shareholders, executive managers, senior officials and employees of the company.

He said that he was satisfied with the company’s excellent performance during 2002, represented by the continuous efficient operation and productivity of the plants, while maintaining the highest standards of safety and security.

On this occasion, Dr. Mustafa Al Sayed, General Manager delivered a speech. He stated that this achievement was significant by international standards, given that more than 17 years have passed since the plants went on stream. Furthermore, this was achieved while maintaining the highest levels of safety and at a Bahrainisation level of 75%. He also mentioned that plants’ efficiency usually declines with time, but because of the dedication of the staff, the reliable operational methods and continuous maintenance of the equipment the company was able to achieve this milestone.

He added that the profits made by the company are the result of the sincere efforts by the employees in rationalising expenses, reduction of cost and improvement of performance. He noted that the company was particularly effective in the training of Bahrainis and development of the local workforce while giving priority to safety and occupational health. This was further demonstrated by winning the RoSPA International Sector Award for the petrochemical industry. On Wednesday 5 March the 24th General Meeting of the shareholders was held at the company head office under the chairmanship of Shaikh Ebrahim bin Khalifa Al Khalifa, Undersecretary at the Ministry of Finance and National Economy, who led the delegation representing the government of the Kingdom of Bahrain. The delegation also included Mr. Mahmood Hashim Al Kooheji, Director of Government Participations at the Ministry of Finance and National Economy. The Kuwait side was represented by H.E. Mr. Saad Ali Al Shuwaib, Board Chairman and Managing Director of Petrochemical Industries Company (PIC) of Kuwait. Saudi Arabia was represented by H.E. Mr. Humood bin Abdulla Al Tuwaijri, Deputy Chief Executive of Saudi Basic Industries Corporation (SABIC). The General Meeting approved the directors’ report for the year ended 31 December 2002, the auditor’s report, balance sheet and final accounts of the company.

These achievements come in the wake of GPIC winning the Shaikh Khalifa bin Salman Al Khalifa Award for Excellence in Industry for Major Companies in 2001; a true reflection of the support and encouragement of the industrial sector by the leadership of the Kingdom. This motivates us towards further achievements in the areas of productivity, safety and environment, Dr. Al Sayed said. He also noted that this occasion coincided with the fifth anniversary of His Highness the Prime Minister’s inauguration of the Urea plant on 3 March 1998. Discussing the implications of these excellent results and achievements, Dr. Al Sayed said that these should be a source of pride, not only for the company, but for all industries in Bahrain. It is clear evidence of international recognition in every sense. This recognition should inspire everyone to greater efforts and positive contributions towards a bright industrial future in Bahrain.

The general meeting expressed its sincere thanks and appreciation to His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, H.H. Shaikh Khalifa bin Salman Al Khalifa, Prime Minister and H.H. Shaikh Salman bin Hamad Al Khalifa, Crown Prince and Commander-in-Chief of the Bahrain Defence Force for their continuous support and assistance to GPIC.

He congratulated all GPIC employees and praised the tremendous cooperation amongst employees of all departments. He emphasised the contribution of the GPIC Trade Union, the first workers’ union in Bahrain. He pointed out that this success was a true reflection of the company’s slogan “One Team”; a slogan which reflects the management philosophy of GPIC. This also proved that the integrated quality, safety, health and environment management systems in the company are strong, contributing significantly to the company’s recognition internationally by organisations such as RoSPA and others.

The meeting praised the efforts of the board of directors, executive management and all the employees whose performance was outstanding, demonstrating their hard work and team spirit. The success of the company’s operations is owed mainly to the GPIC team with their strong sense of loyalty and dedication.

Finally, Dr. Al Sayed expressed his sincere thanks to H.E. Shaikh Isa bin Ali Al Khalifa, Minister of Oil and Chairman of GPIC, the GPIC shareholders SABIC of Saudi Arabia and PIC of Kuwait as well as the board members for the support and backing which enabled the company to operate and grow successfully.

The shareholders stressed the importance of establishing a strategy ensuring the company’s growth, development and

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OVERSEAS COURSES FOR COMPANY’S STAFF

course in “Interpersonal Communication” in UAE, from 25th to 29th Jan. 2003.

n compliance with the company policy to develop supervision, management and technical skills, the following staff attended specialised courses:-

Mr. Yasser A. Rahim, Safety & Security Superintendent, Mr. Abdulmonem Hubail from Plants Operation Department and Mr. Hussain Jaffer from Administration Department attended the “1st Annual GCC Occupational Health & Safety Conference” in UAE from 27th to 29th Jan. 2003.

Mr. Dhafer Saffy from Administration Department attended a course in “Training Management & Applications” in UAE, from 5th to 8th Jan. 2003. Mr. Saleem Al Baluchi from Finance Department, attended a course in “Effective Budgeting & Costing for Decision Making” in Malaysia, from 25th to 29th Jan. 2003.

Mr. Abdullla Hassan from Administration Department attended a course in “Human Resources Information Systems” in Lebanon, from 1st to 5th Feb. 2003.

Mr. Bashar Al Aradi a trainee from Administration Department attended a course in “Elements of Applied Process Engineering” in UAE from 25th to 29th Jan. 2003.

Ms. Sabah Faraj from Administration Department attended a course in “Special Libraries Association” in UAE from 3rd to 5th Feb. 2003.

Mr. Jassim Alessa from Finance Department attended a

GPIC WINS PRESTIGIOUS MANAGEMENT AWARD Cont. from page 1

support and encouragement Kingdom’s wise leadership.

H.H. Shaikh Khalifa bin Salman Al Khalifa, Prime Minister and H.H. Shaikh Salman bin Hamad Al Khalifa, Commander-in-Chief of the Bahrain Defence Force.

received

from

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He said the Shaikh Mohammed bin Rashid Al Maktoum Award for Arab Management was a key motivational award in the Arab world. It is well respected and appreciated and has become a pan-Arab award promoting competition and the striving towards better performance standards, thus enabling Arab industries to keep pace with developments in management and technology.

The Minister also said in his press release that the company’s success in winning this award was due to its excellent management and organisational capabilities and its commitment to strategic planning, including the identification of a clearly defined vision, mission, objectives and corporate business values. The company also provides a creative and motivated environment for its human resources while maintaining quality service to its customers, identifying their requirements and meeting their expectations.

He added that winning His Highness Shaikh Khalifa bin Salman Al Khalifa’s Award for Excellence in Industry for Major Industries in Bahrain last year had gone a long way towards creating the determination and encouraging the hard work which enabled GPIC to receive this international Arab award.

Dr. Mustafa Al Sayed, General Manager of GPIC, said he was proud and pleased to receive this prestigious award on behalf of the company. He considered it as a source of pride, not only for GPIC, but for Arab enterprise in general and Bahraini industry in particular.

Commenting on the methods used in selecting the winner of this award, Dr. Al Sayed said the Selection Committee had reviewed Arab organisations internationally in a number of fields, not just petrochemicals, and very strict criteria had been applied. These are listed as:-

Dr. Mustafa Al Sayed added that this occasion was a special and very happy event. This prestigious award would be a strong motivation for further developing the company’s human resources, enhancing productivity and product quality and continued concern for the environment. He attributed the company’s success to the continuous

1. Leadership and achievements of the management team, its commitment to excellence and continuous

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GPIC WINS PRESTIGIOU Cont. from page 10

Company receives H.H. Shaikh Mohammed bin Ra

improvement in the overall performance of the company and its role in motivating and developing human resources.

10. Overall performance of the enterprise, interest in and measurement of product quality with a view to improvement of performance generally.

2. Strategic planning and the extent of the organisation’s commitment to draw up and apply integrated strategies for all its operations and activities.

All these criteria took into account the company’s own initiatives and other activities that distinguish it from others.

3. Innovative initiatives and diversity of creative efforts. Achievements of the enterprise, suitability of the work environment and encouragement of creative initiatives in the business.

GPIC is regarded as a leader in a number of fields. In productivity and efficiency the company has achieved record figures in the production of Ammonia, Urea and Methanol. The annual output is more than 1.4 million metric tons of petrochemicals. These products are marketed globally which demands high quality standards as well as the utilisation of sophisticated technologies in order to be competitive.

4. Management and electronic business and the extent to which modern electronic technologies are utilised by the company.

5. Human resource development.

management,

planning

and

8. Resource management and the extent, presence and application of effective measures to ensure optimum benefit from financial, IT and property resources.

In terms of profitability, the company has achieved profits which have resulted in regular dividend payments to the shareholders as well as the overall strengthening of the company’s financial position. This favourable position had an important economic impact. The company was able to continuously invest in the upgrading and refurbishment of equipment and facilities, utilising the most modern technologies available. World-class maintenance services ensured the high standard of reliability while production costs and overheads were reduced. In-house programmes for the manufacture of spare parts to international specifications were developed to further improve productivity.

9. Commitment to the community and the extent of community service.

In 1998 the US$170 million Urea project was added to the production facilities. The plant has an annual production

6. Customer service. The commitment by the enterprise to offer excellent service in line with identified customer expectations. 7. Business procedures management with a focus on the company’s approach to design, review and development of work procedures and systems.

S MANAGEMENT AWARD

ashid Al Maktoumâ&#x20AC;&#x2122;s Award for Arab Management of 560,000 metric tons of granulated Urea, utilises state of the art technology and consolidates the petrochemical and fertiliser industries in Bahrain. The Urea project was completed in record time and commissioned and started up utilising trained Bahraini manpower with the assistance of local contractors.

far-sighted vision and the company has a very proud international reputation in these fields. It is also significant that GPIC gained certification to the ISO 9002 quality standard in 1995 and to the ISO 14001 environmental standard in 1999, one of the first companies in the Gulf region to do so.

Commenting on human resources, Dr. Al Sayed emphasised the special focus placed on Bahrainisation and human resource development. He pointed out that competitiveness and corporate success do not only follow from the assets, equipment and technology, as other organisations employ similar facilities. The factor that distinguishes one organisation from another is a qualified, creative and motivated workforce within an integrated corporate culture. GPIC has specifically developed its human resources in line with this fundamental principle.

The environmental concerns of the company are particularly impressive and go well beyond levels required by law in Bahrain. A number of projects such as the Charity Garden, Fish Farm and Bird Sanctuary have been implemented to prove beyond doubt the efforts of GPIC to maintain a clean, unpolluted environment in and around the complex. These projects also have a charitable aspect to them. Of the 30,000 sea bream harvested annually a portion is distributed to needy families in the immediate vicinity of the complex. The rest is reintroduced to the sea to boost the marine life in the waters of Bahrain. It is very important to maintain these environmental efforts as they prove that industrial development can be linked successfully to responsible care for the environment, according to Dr. Al Sayed.

The company management strategy which has been the subject of specialised studies, has been based on a fresh approach to ensure corporate success. The strategies and principles depend on the innovative strategic management concept of MOSIF which encompasses the total strategic management approach of the enterprise. This concept is coupled to the principle of CREAMOC, which integrates creativity and motivation with corporate culture. The two management concepts form the basis of theories now being taught in a number of local and international universities and the two acronyms have been submitted for inclusion in the Oxford Dictionary.

Commenting on the significance and meaning of the Shaikh Mohammed bin Rashid Al Maktoum Award, Dr. Al Sayed expressed the opinion that this award had brought about a quality transformation in terms of excellence throughout the Arab world. All institutions whether government or privately owned now have a new benchmark to strive towards. It is an immense source of pride for GPIC and Bahrain which will motivate the local workforce as well as encourage regional investors to participate in similar projects in the future. It is also a vindication of the wise policies of Bahrainâ&#x20AC;&#x2122;s leadership to diversify the industrial sources of income and employ local manpower. It should also encourage further development and expansion in GPIC along similar proven joint venture lines.

To illustrate the practical application of human resources development, participative decision making and the creation of loyalty, GPIC employs an extensive Suggestion Programme. Suggestions are given proper review, attention and recognition in line with similar international practices. Consequently the scheme has contributed much to the company, both in terms of material returns as well as encouragement of and improvement of performance throughout the organisation.

Dr. Mustafa Al Sayed expressed his sincere thanks and appreciation to H.E. Shaikh Isa bin Ali Al Khalifa, Minister of Oil and Chairman of GPIC for his support and guidance which made it possible for the company to achieve this honour. He conveyed his thanks to the shareholders of GPIC, the Government of Bahrain, Saudi Basic Industries Corporation (SABIC) and Petrochemical Industries Company of Kuwait for their continuous support. He also thanked the members of the Board of Directors for their guidance and assistance and he thanked all the employees for their hard work, loyalty and team spirit.

Dr. Al Sayed also emphasised the great importance attached to safety, environment and occupational health. Ever since the preliminary specifications were drawn up for the initial construction, the designs of all process units and facilities have adhered to international standards and local legislation for safety, health and environment. Today GPIC is enjoying the benefit of that

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