VOL. XXXVIII

NO. 33

15-MAY-1995

Kuwait

PIC/Union Carbide Joint Venture To Be Capitalized at $293mn

Equate, the joint venture between the Kuwait Petrochemical Industries Company(PIC) and Union Carbide of the US which is planning to build a $2bnpetrochemical complex at Shuaiba for the production of ethylene (650,000 t/y),polyethylene (450,000 t/y) and ethylene glycol (340,000 t/y) will be capitalizedat KD86mn ($292.55mn) divided into 860mn shares with a par value 100 fils (34 UScents) each,...