Qatar Holding suspends 70:30 JV with Honam Petrochemical Corp

31-Dec-08

Global economic meltdown and pessimistic markets has compelled Qatar to suspend the progress of its 70:30 joint venture with Honam Petrochemical Corp planned with a capacity to produce 1.7 mln tpa of propylene, polypropylene, styrene, polystyrene and aromatics (xylene), using ethane and naphtha provided by Qatar Petroleum, to produce 700,000 tons of polypropylene, 600,000 tons of styrene monomer and 220,000MT of polystyrene. As of now, the project has only been put on hold, and plans to build it have not been abandoned.