APIC ’08: QVC may expand into PVC only post-2012
27 May 2008 03:57 [Source: ICIS news]
By Prema Viswanathan
SINGAPORE (ICIS news)--Qatar Vinyl Co (QVC) may look at expanding downstream into polyvinyl chloride (PVC) only post-2012, a source close to the company said on Tuesday.
"The company will have to take a close look at the PVC supply situation in the next few years before making any decision to make an investment," the source said on the sidelines of the Asia Petrochemical Industry Conference (APIC) in Singapore.
With more than 2m tonnes/year of PVC, most of it carbide-based, due to come on stream in China towards the end of 2008, there were concerns that there could be an oversupply situation.
"It makes more economical sense at present for QVC to ship out vinyl chloride monomer (VCM) and ethylene dichloride (EDC) to Asia rather than go further downstream into PVC, especially as Qatar is a very small market for PVC," the source said.
The Gulf Cooperation Council (GCC) region, to which Qatar belongs, has a huge shortfall of PVC, with SABIC's 400,000 tonne/year plant in Saudi Arabia being the only one in the region.
"However, the rising land transportation costs in the GCC region makes it quite challenging for a PVC plant in Qatar to sell into the region," the source added.
QVC operates a 200,000 tonne/year EDC unit and a 400,000 tonne/year VCM plant at Messaieed, Qatar.
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By: Prema Viswanathan
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