IHS Chemical Week

Regions :: Middle East

Kuwait ordered to pay Dow close to $2.5 billion in K-Dow arbitration case

8:40 AM MST | March 4, 2013 | Natasha Alperowicz

The International Court of Arbitration of the International Chamber of Commerce (ICC) today released the final award amount, representing interest and costs, in the arbitration case between Dow Chemical and Petrochemical Industries Company (PIC) of Kuwait related to the K-Dow transaction.   The final interest and costs awarded to Dow totals $318 million, as of today, and is in addition to the partial award of $2.16 billion announced last May—resulting in full damages awarded to Dow equal to $2.48 billion. This is the last step in the disciplined...

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