QatarEnergy and Chevron Phillips Chemical Co. LLC announce that they will proceed on construction of a $6 billion integrated polymers complex in Ras Laffan Industrial City, Qatar. An agreement marking the positive final investment decision for the project was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the president and CEO of QatarEnergy, and by Bruce Chinn, president and CEO of Chevron Phillips Chemical, at a ceremony in Doha. The companies created a joint venture, Ras Laffan Petrochemicals, in which QatarEnergy owns a 70% equity share and Chevron Phillips Chemical owns 30%.
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