VOL. XXXVIII

NO. 43

24-JULY-1995

Kuwait

PIC/Union Carbide/Bubiyan Petrochemicals Sign Partnership Agreement

On 15 July a partnership agreement was signed in Kuwait setting up the jointventure firm Equate Petrochemical Company K.S.C. - owned 45% by the state-ownedPetrochemical Industries Company (PIC), 45% by the US firm Union Carbide and 10%by the Kuwaiti private sector's Bubiyan Petrochemical Company (BPC). The ventureis planning to construct at the Shuaiba Industrial Area by 1997 a $2bn...