Dow Chemical and Kuwait’s Petrochemical Industries Co (PIC) have been reportedly signing a mutual agreement for a $17.4 billion K-Dow petrochemicals joint venture. It is estimated that K-Dow would generate $11 to $15 billion annual sales with the new JV which includes Dow's existing joint-ventures MEGlobal and Equipolymers.
The 50:50 JV company will use Dow's strength from its olefins and polyolefins capacity turning it to be a major producer of petrochemicals and plastics including polyethylene, ethylene amines, ethanolamines, polypropylene and polycarbonate. K-Dow is also seen to be one of the important polypropylene technology and market related catalysts licensor.
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