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Regions :: Middle East :: Qatar

Qatar and Honam Delay Olefins Joint Venture

10:26 AM MST | December 15, 2008 | Chemical Week Editorial Staff

Qatar Intermediate Holdings (QIH; Doha) and Honam Petrochemical (Seoul) have delayed by one year a previously announced 70-30 joint venture project to build an olefins plant in Qatar, reports say. The companies cite difficulties obtaining financing due to tight credit markets. The complex is expected to cost much more than original estimates of $2.6 billion. The delay means that the complex will most likely start operating at Mesaieed, Qatar in 2012 instead of an originally scheduled start-up date of 2011. Contractors submitted commercial bids last October to...

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