Publish Date : 16-Dec-2013
Qatar Petroleum (QP) and Qatar Petrochemical Company (Qapco) has signed the Front-End Engineering and Design (FEED) contract with a leading construction company, Tecnimont SpA, for the QR20bn ($5.5bn) Al Sejeel Petrochemical Complex, to be developed in Ras Laffan Industrial City.
The agreement was signed by Hamad Rashid Al Mohannadi, Chairman of Qapco, and Pierroberto Folgiero, CEO of Maire Tecnimont Group. The signing ceremony was witnessed by H E Dr Mohammed bin Saleh Al Sada, the Minister of Energy and Industry and Chairman and Managing Director of QP.
The signing of the FEED contract with the global engineering and construction firm comes as a major breakthrough for the progress of the multi-billion dollar mega-petrochemical complex. QP own 80 percent and Qapco 20 percent equity interest, in the complex.
Completion of the project is scheduled in 2018. It will have one of the world's largest mixed-feed steam crackers and would be capable to take up production of 2.2 million MTPA of polymers, including PE and PP resins.
The Al Sejeel Petrochemical Complex will boost Qatar's position as a leading global petrochemical producer, said, Dr Al Sada, who added that, "This project is aligned with the principles of Qatar National Vision 2030, as launched and guided by the Emir H H Sheikh Tamim bin Hamad Al Thani. We are committed -more than ever - to the accomplishment of our growth objectives, and to meeting our economic needs while safeguarding the requirements of future generations."
He added, "Today is a clear demonstration of such a commitment. It is the vision of our leadership to harness the tremendous potential of the petrochemical sector and to embark on a large-scale expansion of our downstream industry. To this end, we aim to raise our petrochemical output to 23 million MTPA by 2020, thus supporting the growth and diversification of the Qatari economy. This will increase the universal reach of value-added "Made in Qatar" product portfolio across the globe."
Al Mohannadi said, "We have witnessed the tremendous progress achieved by our petrochemical industry, resting on the capabilities and skills developed by local talent. Today, Qatari leadership is the driving force of Al Sejeel, which makes the project truly special as it is the first time that two Qatari companies will develop together a complex of this scale. Al Sejeel has become a national symbol and I take great pride in this groundbreaking achievement."
He added, "The complex will also develop the talents of the future. This unprecedented complex will offer more than 1,500 career opportunities for talented young Qataris willing to participate in building a sustainable future for our nation."
The plants will deal in processing various feed types simultaneously, such as ethane, butane, and naphtha.
Go to previous page
