Contractor Pressures Delay Honam Qatar Complex

A previously announced project to build a petrochemical complex at Mesaieed, Qatar by a joint venture between Qatar Petroleum (QP; Doha) and Honam Petrochemical (Seoul) has been hit by delays, CW has learned. The complex will be completed in 2010, and not 2009 as originally scheduled, because of pressures on the contracting industry, says Soo Young Huh, senior managing director at Honam. “We have only signed a memorandum of understanding with QP and are still waiting to sign the agreement,” Soo Young Huh says. Honam is expected to hold a 30% stake in...

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