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South Korea's Hunan Petrochemical and Qatar to build large-scale petrochemical project products will be mostly sold to China
Qatar Petroleum Corporation (QP) and South Korea's Hunan Petrochemical Company are set to build a major petrochemical complex in Qatar, with a total investment of $2.6 billion. The joint venture will see QP and its subsidiaries owning 70% of the shares, while Hunan Petrochemical will hold the remaining 30%. The project, which started construction in 2006 and was expected to begin operations in the third quarter of 2009, marks a significant step in expanding Qatar’s industrial capabilities.
The core of the complex will feature a mixed-feed cracker capable of producing between 700,000 and 900,000 tons of ethylene annually. Part of this ethylene will be converted into propylene through translocation, which will then be used to manufacture 700,000 tons per year of polypropylene. In addition, the facility will include a 600,000-ton-per-year styrene plant and a 220,000-ton-per-year polystyrene plant. An aromatics complex will also be built, producing benzene and paraxylene at a combined capacity of 150,000 tons per year. Other by-products such as ethylene glycol will also be produced.
Excess ethylene production, exceeding 300,000 tons annually, will be sold to local companies like Qatar Petrochemical to support their polyethylene expansion projects. Similarly, surplus styrene will be exported or sold locally. This strategic arrangement ensures efficient utilization of the complex’s output.
Hunan Petrochemical will take full responsibility for technology selection, construction, trial operations, plant management, sales, and research and development. Most of the products will be exported to China, with a portion also reaching markets in Europe and Africa. This partnership represents Hunan’s first large-scale overseas petrochemical investment, following a smaller joint venture in Qingdao that focuses on chlorinated polyethylene production. The deal highlights growing international collaboration in the energy and chemical sectors.