Dow in negotiations to revive Kuwait deal with Petrochemicals Industries

12-Mar-09

Dow Chemicals is reported to be in negotiation to revive a proposed joint-venture with Kuwait's Petrochemicals Industries to build a new petrochemicals plant. In a move that shocked the industry, Petrochemical Industries walked away from a deal in December when it backed out of their joint venture because of the global economic downturn. The proposed plant is a component of Dow Chemical's strategy to reposition petrochemical assets near abundant, low-cost sources of hydrocarbon feedstock.