| Tight credit markets have led to a year long delay at a US$2.6 bln joint venture petrochemical plant to be built by Qatar Petroleum and South Korea's Honam Petrochemical Corp. Project financing has been hit, delaying project completion to 2012. Total propylene and polypropylene capacity planned at the plant is 900,000 tpa. Qatar Petroleum, whose subsidiary holds 70% stake in the project, is to supply ethane and naphtha. Foster Wheeler won the contract for engineering and design and project and construction management for the plant in October 2007. |
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