" /> " /> " />

Kuwait in unofficial Dow penalty payment talks

28 January 2010

Kuwait is in "friendly" unofficial talks with Dow Chemical Co. to avoid paying a $2.5bn penalty for scrapping a $17.4bn petrochemical deal, Arabic daily al-Rai has reported. Kuwait has offered to pay 10% of the penalty which amounts to some $250m, the paper said. Kuwait scrapped the petrochemicals deal with Dow in December 2008, a month after signing it, due to criticism in parliament.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications