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Dow Accelerates Strategy in Middle East
DUBAI — Andrew Liveris, Chairman and CEO of The Dow Chemical Company, emphasised on Friday the company’s commitment to the Middle East and its growing presence in the region.
Over the last several years, Dow has implemented its asset light strategy and reinforced its commitment in Basic chemicals and plastics with several projects, such as the Olefins II project in Kuwait, the Sohar project in Oman, Ras Lanuf petrochemical JV in Libya, and the recently announced launch of K-Dow Petrochemicals with its partner, PIC of Kuwait.
In addition, the company is fully committed to implementing its huge petrochemical and performance products project at Ras Tanura with Saudi Aramco.
The project, which is currently undergoing detailed feasibility and engineering studies, will commence construction in 2010.
“While we are indeed making a number of reductions in our cost structure as part of our transformational strategy, an equally important element of that strategy is our commitment that we will not cut spending at the expense of growth,” said Liveris.
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