Three days before K-Dow,the new petrochemicals and plastics joint venture of Dow Chemical(Midland,Michigan/USA;www.dow.com)and Kuwait's Petrochemical Industries Company(PIC,Sabahiya;www.pic.com.kw),was to start business on 1 January 2009,the deal was scuttled by the Kuwait Supreme Petroleum Council(SPC).Dow said it had been"verbally informed"of the decision and was awaiting written notification.The US group added that it was"extremely disappointed"and was"evaluating its options"going forward.However,management stressed that it"remains committed to its Middle East Strategy."
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