06 June 2006 05:36 [Source: ICIS news]
Correction: In the ICIS news story headlined "Qatar Petroleum starts EPC study on Honam jv" dated 5 June, 2006, please read the headline as “Qatar Petroleum to start study on Honam jv”. Also read in the first paragraph that Qatar Petroleum (QP) plans to start a study instead of is conducting a study. A corrected story follows.
DUBAI (ICIS news)--Qatar Petroleum (QP) is planning to start an engineering, procurement and construction (EPC) study for a joint venture with Honam Petrochemical, a QP source said on Sunday.
He added that no contract had been signed as yet, and that they were in the process of trying to secure feedstock.
Asked about possible plans for cost revision, he said that they were yet to begin collecting data and there could not be any cost estimates without that. He reiterated that there were no separate plans for revising costs.
According to the terms of the 70:30 joint venture between the companies, a $2.6bn petrochemical complex is to be built at Mesaieed in ?xml:namespace>
Production of styrene and polystyrene (PS) will amount to 600,000 tonnes/year. Aromatics capacity will be 150,000 tonnes/year, and by-products output will total 50,000 tonnes/year. The complex is scheduled for completion in 2009.
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