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Dow Chemical looks to Saudi Arabia as costs continue to rise

Liz Wells, packagingnews.co.uk, 07 July 2008

Dow Chemical Company, which supplies coatings to the packaging industry, and oil company Saudi Aramco are to invest USD26bn (£13.2bn) in a petrochemicals complex in Saudi Arabia according to reports.

The chemical plant, which would use low-cost oil supplies, would open up cheaper raw materials to Dow and would help Saudi to diversify from petroleum into higher-value products.

Dow has raised its prices by up to 25% this month to recoup rising energy and raw-material costs.

Dow serves customers in around 160 countries and has 46,000 employees worldwide.

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