in this issue
Regions :: North America :: U.S.
Dow awarded final $2.2 billion payment in K-Dow arbitration
12:10 PM MDT | May 7, 2013 | Lindsay Frost
The final resolution has been completed in the K-Dow arbitration between Dow Chemical and the Petrochemical Industries Company (PIC; Kuwait City, Kuwait), 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...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee