IHS Chemical Week

Dow receives K-Dow payout

11:54 AM MDT | May 7, 2013

The final resolution has been completed in the K-Dow arbitration between Dow Chemical and the Petrochemical Industries Company of Kuwait (PIC), with Dow confirming today that it has received a direct cash payment of $2.2 billion from PIC. The money was awarded to Dow by the International Chamber of Commerce's (ICC) international court, which last year ruled against PIC for pulling out of the $17.4-billion K-Dow petrochemical joint venture in 2008 amid the global economic crisis. “Dow and Kuwait share a long history, and payment of this award brings final and...

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