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Business
Dow Gets Award In Kuwait Dispute
by Alexander H. Tullo
March 11, 2013
| A version of this story appeared in
Volume 91, Issue 10
The International Court of Arbitration has awarded Dow Chemical $318 million in interest and costs in its dispute with Petrochemical Industries Co. of Kuwait over the failed formation of the K-Dow joint venture. The decision brings to $2.5 billion the full amount PIC is required to pay to Dow. PIC can no longer appeal. The deal to form the venture, comprising most of Dow’s petrochemical business, was to be worth $9 billion to Dow. It was scuttled by the Kuwaiti government in December 2008.
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