Qatar Petroleum and Chevron Phillips Chemical have signed a US$800mn joint project to produce petrochemicals.
The project includes the ownership of a new 350,000 tonne-per-year polythylene plant and a 345,000 tonne-per-year normal alpha olefins plant. The two plants will be built in the Mesaleed industrial city, northeast of Doha.
The financing for Q-Chem II and its share of the ethylene cracker will be provided by a group of commercial banks and US Ex-Im Bank, along with equity capital from Chevron Phillips Chemical and Qatar Petroleum.
The engineering, procurement and construction (EPC) contract for the two plants was awarded to Italy’s Technimont and South Korea’s Daewoo Engineering and Construction Company.
Technip France was selected for the EPC contract for the ethylene cracker.