Qatar Petrochemical Co. inaugurates first ethylene cargo of EP2 to Indian FINOLEX

Due to the constant efforts, wise vision and continual support from the chairman of Board Directors of Qatar petrochemical Co. (QAPCO), HE Abdullah bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industries, and VC Chairman of Board of Directors, and due to the necessity of utmost utilization and investment of the available hydrocarbon resources for the development of economy in the state of Qatar, Qatar petrochemical Co. (QAPCO) has inaugurated the first ethylene cargo of the Ethylene Expansion project (EP2) to FINOLEX Industries of India.

EP2 project is to increase the ethylene capacity from 535 KTA to 720 KTA.

QAPCO has celebrated this event at its premises in Mesaieed Industrial City (MIC).

The first ethylene cargo to Finolex consists of 4500 KTA, as Qatar Petrochemical Company has signed a contract with it for the annual sale of 22,500 metric tonnes (MT) of Qapco's ethylene and between 40,000MT and 60,000MT of Qatar Vinyl Company's ethylene dichloride (EDC) and vinyl chloride monomer (VCM). According to this contract, supplies will begin from now until December 31, 2009.

In his speech, Dr. Al-Mulla said he was delighted to celebrate the first ethylene cargo of EP2 to Finolex of India. This shipment, he went to say, was scheduled to be at the beginning of next year, but the completion of EP2, earlier than scheduled, has helped in this achievement.

Dr. Al-Mulla stated that this ethylene cargo has availed QAPCO the opportunity to regain its position as an ethylene exporter after many years since QVC has started. "This is a value added achievement towards the petrochemical sector in Qatar", he concluded.

Mr. Prakash, Deputy Managing Director of Finolex said that our relations with Qatar Petrochemical Co. (QAPCO) are not merely a business relation between a supplier and a customer, but it is rather a brotherly relation that goes back to a long term period of mutual business and cooperation.

Finolex Group is one of India's leading industrial companies engaged in diverse areas such as chemicals and, petrochemicals, and that Qapco has a major presence in India and has strong and solid business relations with its markets.