VOL. XXXVI

NO. 39

28-JUNE-1993

KUWAIT

PIC Signs Memorandum With Union Carbide On Petrochemical Complex

The Kuwait Petrochemical Industries Company (PIC) - a wholly owned subsidiaryof the Kuwait Petroleum Corporation (KPC) - on 19 June signed a memorandum ofunderstanding with Union Carbide Corporation of the US to set up and operate inKuwait on a joint-venture basis a large-scale petrochemical complex estimated tocost KD700mn ($2.45bn). The joint-venture will be owned 45% by the KuwaitiGovernment,...