K-Dow Petrochemicals

K-Dow Petrochemicals
Company typeJoint Venture
IndustryPetrochemical Manufacturing
HeadquartersMichigan,
United States
Key people
Jim Fitterling, CEO
ProductsPolyethylene, Ethylenediamines, Ethanolamines, Polypropylene, and Polycarbonate

K-Dow Petrochemicals was a planned $17.4 billion joint venture between The Dow Chemical Company and Petrochemical Industries Company (PIC) of the State of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation (KPC).[1] A joint venture between the two companies was signed in July 2008.[2] However, critics to the deal from members of the Kuwaiti parliament [2] lead to its collapse in December 2008.[3] Dow sued PIC, and was awarded over $2 bn damages by a non-governmental court in 2012.[4]

  1. ^ "Dow and PIC of Kuwait Sign Binding Joint Venture Agreement to Launch K-Dow Petrochemicals". PR Newswire. Retrieved 2008-12-01. [dead link]
  2. ^ a b Dow signs JV with PIC July 2008 Archived July 17, 2012, at the Wayback Machine
  3. ^ Kuwait cancels $17 billion joint venture, Reuters Dec 28 2008
  4. ^ International Chamber of Commerce International Court awards $2.16 bn to Dow in Kuwait arbitration