Skip to content Skip to Search
Skip navigation

QatarEnergy begins construction of $8.5bn polymers plant in US

Executives of QatarEnergy and Chevron Phillips Chemical Corporation break ground on the Golden Triangle polymers plant in Texas, US

State-owned QatarEnergy and Chevron Phillips Chemical Company have broken ground on the $8.5 billion Golden Triangle polymers plant in Orange County, Texas, US.

Located about 180 km east of Houston, the plant will include an ethylene cracker unit with a capacity of 2.08 million tons per annum and two high-density polyethylene units with a combined capacity of two million tons per annum, QatarEnergy said in a statement.

The plant is expected to startup in 2026. It will be owned by Golden Triangle Polymers Company LLC, a joint venture in which QatarEnergy holds a 49 percent equity interest, with 51 percent held by Chevron Phillips.

Ahmad Saeed Al-Amoodi, QatarEnergy’s executive vice president, surface development and sustainability, said: “We are investing $8.5 billion to build this world-scale facility, which is QatarEnergy’s second largest investment in the US after the more than $11 billion investment in the Golden Pass LNG production and export facility, which is currently under construction in Sabine Pass, Texas.”

Last week QatarEnergy announced a third oil discovery with its partners, Namibia’s oil major Namcor and Shell, in the Jonker-1X deepwater exploration well, in the Orange Basin offshore southern Namibia.

In February, the Lebanese energy ministry said that QatarEnergy will join TotalEnergies and Eni in a three-way consortium to explore oil and gas in two maritime blocks off the coast of Lebanon.

Latest articles

'We need to be extra cautious, but... also opportunistic', says Bahrain FinTech Bay CEO Bader Sater about the country's approach to crypto

Bahrain remains cautious but crypto pursuit advances

Bahrain will not sacrifice its position as a trusted financial centre as it chases cryptocurrency millions, according to the boss of fintech incubator Bahrain FinTech Bay. Earlier this month the kingdom’s central bank gave BitOasis Bahrain, a regional crypto trading platform, a so-called Category 2 crypto-asset services licence. The regulatory approval means that the broker-dealer […]

A money exchange centre in Cairo. The World Bank funding is intended to support private sector growth in Egypt

World Bank’s $700m push for Egypt’s private sector

The World Bank will provide $700 million in funding to Egypt to address short-term economic challenges. The development policy financing (DPF) will aid in supporting the Egyptian government’s focus towards more private sector participation. The financing will further advance structural reforms to level the playing field to support private sector growth, build macroeconomic and fiscal […]

Mubadala injects $250m to revive Turkey’s Getir

Abu Dhabi’s Mubadala Investment Company will invest $250 million in Turkish grocery delivery startup Getir as part of a restructuring programme that will split it into two standalone units. The first standalone business will focus on domestic online groceries and food delivery services, with Mubadala, an existing shareholder, holding the management and majority stake, Reuters […]

Saudi Arabia's Capital Markets Authority approved Arabian Mills' public flotation application on the Saudi stock exchange on Monday

Arabian Mills to sell 30% stake on Saudi bourse 

Arabian Mills for Food Products will list 15.4 million shares, or a 30 percent stake, on the Saudi stock exchange, the kingdom’s market regulator has said. The Capital Markets Authority (CMA) approved the company’s public flotation application on Monday, adding that the prospectus will be published before the subscription start date. No other details of […]