Skip to content Skip to Search
Skip navigation

QatarEnergy and Chevron Phillips to build $6bn petchem complex

Qatar News Agency
The integrated complex is expected to begin production in late 2026

QatarEnergy has signed a final investment decision on the $6 billion Ras Laffan Petrochemicals Complex with partner Chevron Pillips Chemical, which will be the largest in the Middle East.

The complex includes an ethane cracker with a capacity of 2.1 million tonnes of ethylene per year, the energy firm said in a statement published by state-run Qatar News Agency.

In addition, it will have two high-density polyethylene derivative units with a total production capacity of 1.7 million tonnes per annum.

State-owned QatarEnergy will hold a 70 percent stake in the venture, with Chevron Phillips Chemicals holding 30 percent.

“This marks QatarEnergy’s largest investment ever in Qatar’s petrochemicals sector and the first direct investment in 12 years,” said CEO Saad Al-Kaabi.

“It will double our ethylene production capacity, increase our local polymer production from 2.6 to more than 4 million tons per annum and place the utmost emphasis on sustainable growth and the environment,” he added.

Chevron Phillips Chemical chief executive Bruce Chinn said the investment would help meet the global demand for polyethylene products.

He added that work started at the site in June 2022, with the project expected to begin operating in late 2026. 

Latest articles

Payments processed from international visitors rose 55%

Network International profit shrinks while revenue grows

High interest rates and currency devaluations dented profit at Middle East payments provider Network International last year, despite revenue rising by 13 percent. The company posted net profit of $67 million for 2023, a drop of 16 percent year on year. The primary impact on profit for the year came from increased financing costs as […]

Saudi Arabia's minister of human resources Ahmad bin Sulaiman Al-Rajhi. The sector is the latest to be targeted in the kingdom's Saudisation drive

Saudi Arabia steps up Saudisation job drive

Saudi Arabia’s government said this week that jobs in human resources (HR) in the kingdom are now restricted to Saudi nationals only. It is another step in the country’s plan to localise skilled jobs and reduce unemployment.  The ministry of human resources made the statement on social media site X, formerly Twitter, in response to […]

Drake & Scull's projects include Louvre Abu Dhabi. Its revenues grew AED13 million in 2023

Auditors raise concerns over Drake & Scull as losses mount

Auditors reviewing the finances of Drake & Scull International have issued a heavily qualified disclaimer in which they appear to distance themselves from the UAE construction contractor. A filing on Dubai Financial Market for Drake & Scull revealed revenues of AED94 million ($26 million) for the year to December 31 2023, up from AED81 million […]

Bahrain titanium

Bahrain enters $27bn titanium market

A $200 million manufacturing plant is planned in Bahrain to produce titanium products as part of the kingdom’s ambitions to expand its industrial sector. Edamah, the real estate arm of the sovereign wealth fund Mumtalakat, has signed a 25-year lease agreement with Bahrain Titanium, a subsidiary of the Swiss company Interlink Metals & Chemicals, for […]