Qapco targets $12 billion investment
Dubai, March 30, 2010
Qatar Petrochemical Company (Qapco) plans to raise production to 30 million tonnes per year by 2014 from a current 18 million tonnes, a company executive said in an interview published by a local newspaper.
Qapco produces 800,000 tonnes of ethylene, 400,000 tonnes of low density polyethylene (LDPE) and 70,000 tonnes of sulphur annually, Qapco General Manager Mohamed Al Mullah said.
That will rise to a capacity of LDPE output at 700,000 tonnes and ethylene at 1.4 million tonnes per year, he said.
Investment in Qapco is expected to jump to $12 billion by 2012 from a current $1.7 billion as Qatar becomes an important regional centre for petrochemical production, he said. – Reuters