• HSBC

Qatar Petroleum eyes China, Vietnam plants

  • Qatar: Sunday, November 22 - 2009 at 10:47

Nasser al-Jaidah, CEO of Qatar Petroleum International (QPI) has said the company plans to build two petrochemical plants costing about $9.8bn in China and Vietnam by 2015, to tap growing demand in the region, Bloomberg has reported.

The firm will partner with Cnooc Ltd. and a Chinese petrochemicals maker to construct a $5.8bn plant in China's Hainan province. QPI has also begun preliminary talks with Vietnam Oil & Gas Group (PetroVietnam), Itochu Corp. and companies in Thailand to build a $4bn plant in Vietnam, al-Jaidah said. Both ventures will use Qatari liquefied petroleum gas to produce chemicals, he said.
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