Qatari investors ink US$5 bln deal for 49% stake in Shandong Dongming Petchem

31-Mar-15
Qatar's Qatra for Investment & Development (QID Group) and Hamad Bin Suhaim Enterprises have signed an initial deal of US$5 billion to acquire 49% of China's Shandong Dongming Petrochemical Group, as per company sources in Reuters. The deal is expected to be finalised by Q4-2015, with the cash used to finance a number of projects that Shandong is currently working on- to include building 1,000 petrol stations across six provinces in China and a liquefied natural gas (LNG) terminal with a 3 mln tpa capacity in the region of Qinzhou.
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