Petrochemical Industries Co. KSC (PIC) of Kuwait and Union Carbide Corp., Danbury, Conn., have signed a memorandum of understanding confirming their intent to form a joint venture to build and operate a world scale petrochemical complex in Kuwait. Slated for completion in 1997, the complex will include a 650,000 metric ton/year ethane cracker, 450,000 metric ton/year of polyethylene capacity, and 350,000 metric ton/year of ethylene glycol production. The venture will couple an advantageous feedstock position in Kuwait with Carbide's Unipol polyethylene and ethylene glycol technologies and world marketing capability. ...

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