INDUSTRIES QATAR PUTS 'AL-SEJEEL PETROCHEMICAL COMPLEX PROJECT' ON HOLD

摘要

Industries Qatar, the Gulfs second-largest petrochemicals firm, has put its multi billion dollar Al-Sejeel petrochemical complex project on hold and was studying a new scheme instead that would yield better returns. The company 'confirmed that the Al Sejeel Petrochemical Complex project has been put on hold, and that a new downstream petrochemical project that is expected to yield better economic returns is instead under study,' it said on a bourse statement. Qatar Petroleum (QP) and Qatar Petrochemical Company (QAPCO) signed an agreement in February 2012 to jointly develop the Al Sajeel mega-petrochemical complex in Ras Laffan, with QP holding an 80 per cent stake and QAPCO owning the rest. Industries Qatar owns 80 per cent of QAPCO.