Qatar’s first PVC plant to be completed in mid-2025

SINGAPORE (ICIS)–Qatar Vinyl Co’s (QVC) new 350,000 tonne/year polyvinyl chloride (PVC) plant in Mesaieed is slated for completion in mid-2025, with Industries Qatar expected to have a direct 44.8% stake in the company in May 2026.

“During April 2022, an EPC [engineering, procurement and construction] contract was awarded for a new PVC plant, and the plant’s construction is expected to be completed by mid-2025,” Industries Qatar said on 4 October, confirming ICIS’ story in April.

Details on plant capacity and investments were not disclosed by the company.

The PVC plant, which will be the first in Qatar, will be integrated with QVC’s existing vinyl chloride monomer (VCM), ethylene dichloride (EDC) and caustic soda facilities in Mesaieed.

Its PVC output is expected to cater to the growing requirements of the Middle East’s construction industry.

Project funding will be shared between new joint venture partners Mesaieed Petrochemical Holdings (MPHC) (55.2%) and Industries Qatar (44.8%), under a recently signed “Principles Agreement” between the two companies.

“The project funding for IQ’s share will be made from its Group’s existing sources of free cash, ensuring an efficient and effective use of liquidity,” Industries Qatar said.

Currently, QVC is a joint venture among three entities – MPHC, Qatar Petrochemical Company (QAPCO) – a subsidiary of Industries Qatar – with a 31.9% stake, and QatarEnergy with a 12.9% stake. This ownership structure will expire on 1 May 2026, MPHC and Industries Qatar said in separate statements.

Industries Qatar’s direct share in QVC under a new joint venture agreement with MPHC will be the combined stakes of QAPCO and QatarEnergy.

Focus article by Pearl Bantillo