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Qatar Petroleum, Qapco in a USD5b petrochemical venture

MENAFN - - 13/02/2012


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(MENAFN) Qatar Petroleum (QP) and Qatar Petrochemical Co (QAPCO) unveiled plans to set up a USD5 billion petrochemical complex in Ras Laffan industrial city, Reuters reported.

Energy Minister Mohammed Al-Sada said that the plant's petrochemical output is directed mainly to lucrative markets in Asia, Africa and Latin America.

The plant, scheduled to be completed in 2018, will produce an annual 1.4 million tonnes of ethylene, 850,000 tonnes per annum of high-density polyethylene, 430,000 of linear low-density polyethylene, 760,000 tonnes of polypropylene and 83,000 tonnes of butadiene.

Al-Sada said that his country plans USD25 billion investment in developing its domestic petrochemical industry over the next decade.

He added that Qatar targets more than double its annual petrochemical output capacity, from current 9.2 million tonnes to 23 million tonnes by 2020.

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