CEO in Kuwait's Petrochemical Industries Company Asaad al-Saad
Kuwait - KUNA
Dow Chemical Co. has informed its partner Kuwait's Petrochemical Industries Company (PIC) of its wish to reduce its shared assets in chemicals manufacturing inside and outside of Kuwait.
Dow Chemical's keenness will come by reducing its participation in such assets, and this will be agreed over at a later date, PIC's CEO Asaad Al-Saad told KUNA.
This will have an impact on giving other partners the opportunity to enhance their investment activities in some of these participations, he added, in the case reaching an agreement over the details of this contract.
The procedures for the move are expected to be concluded mid-2015 after technical and legal means are fully revised and after a positive impact over this move is ensured, he concluded.