Honam Petrochem cancels plans of US$2.6 bln JV petrochemicals complex in Qatar

29-Apr-10

Preferring to strengthen production at home, South Korea’s Honam Petrochemical has called off plans to build a US$2.6 bln JV petrochemicals complex in Qatar with state-energy company Qatar Petroleum (QP). The project is not likely to be revived in the short term as the company plans to expand its existing facilities as per ICIS. The project was planned to be a 70:30 joint venture with QP and Honam for a petrochemicals complex at Mesaieed to include a 1.3 mln tpa ethylene cracker and 700,000 tpa polypropylene unit.