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QatarEnergy hugely invested in Petrochemical sector

By signing a contract with Chevron Phillips Chemical Company LLC (CPChem) to construct the $6 billion Ras Laffan Petrochemicals complex—an integrated olefins and polyethylene facility—at Ras Laffan Industrial City, QatarEnergy accomplished another significant milestone yesterday.

In a ceremony in Doha, the agreement for a joint venture company to implement the project, in which QatarEnergy will own a 70% equity share and CPChem will own a 30% share, was signed by Minister of State for Energy Affairs, President and CEO of QatarEnergy E Saad Sherida Al Kaabi, and President and CEO of Chevron Phillips Chemical Bruce Chinn. Senior executives from QatarEnergy and CPChem as well as Phillips 66 President and CEO Mark Lashier attended the signing event.

The engineering, procurement, and construction (EPC) contract for the ethylene plant was also awarded by QatarEnergy to SCJV, a partnership between the Samsung Engineering Company Ltd. of South Korea and the CTCI of Taiwan. Maire Tecnimont of Italy received the EPC contract for the polyethylene facility, and Emerson of the USA received the primary automation contract.

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