QATARENERGY AND CHEVRON PHILLIPS CHEMICAL SECURE $4.4 BILLION FINANCING FOR RAS LAFFAN PETROCHEMICALS PROJECT
October 10, 2023
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QatarEnergy and Chevron Phillips Chemical Company announced that they have received $4.4 billion in funding for their polymer complex in Ras Laffan Industrial City, Qatar, with an overall cost of $6 billion. The complex will include an ethane cracker and two polyethylene trains with annual capacities of 2.1 million tons of ethylene and 1.7 million tons of High-Density Polyethylene (HDPE) polymer products, respectively. It is expected that production will begin by late 2026.
The plant will be one of its kind in the world and in the Middle East. What is most intriguing is that the focus of this plant would be on reducing waste and greenhouse gas emissions, which is generally not the primary focus of other complexes of the same face value.