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KUWAIT: Joint venture signature of memorandum of understanding (MOU) for a planned large-scale...

PROJECT OVERVIEW:

An American/Kuwaiti joint venture in the making recently signed a memorandum of understanding (MOU) regarding the expansion of an existing olefins plant and the construction of a new styrene complex. The project, which was first planned in mid-2002, includes the local PETROCHEMICAL INDUSTRIES CO. (PIC) and US-based DOW CHEMICAL CO.

According to the terms of the MOU, DOW will reportedly act as the foreign partner regarding the addition of new olefins capacity at PIC's existing EQUATE PETROCHEMICAL CO. This upgrade will involve boosting out

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