Dow, PIC may build cracker in Egypt.(Europe/Mideast)(Dow Chemical; Petrochemical Industries Co)(Brief Article)

Dow Chemical and Petrochemical Industries Co. (PIC; Kuwait City), joint owners of an ethylene complex in Kuwait, have teamed up again for an ethylene project in Egypt, local sources say. The companies have signed a memorandum of understanding (MOU) with Egyptian Petrochemicals Holding Co. (Echem; Cairo) for a $1-billion petrochemicals complex including a 1-million m.t./year ethylene plant and correspondingly sized polyethylene unit. Dow declined to comment on the project.

A recent analyst's note quoted Theo Walthie, president/hydrocarbons and energy at Dow, as saying that the company is considering plans to develop a third petchem-producing location in the Mideast. …