His Highness the Emir DOHA Sheikh Hamad bin Khalifa al Thani Qatar petrochemical company (Qapco) QR will usher is 2.2 billion new low density polyethylene (LDPE) plant in Mesaieed industrial city (MIC) on November 20, company sources said on Saturday.
The first stone of the LDPE 3 plant, which will have an annual capacity of 300,000 tons, was laid by His Highness the heir to the Sheikh Tamim bin Hamad al Thani in 2009.
With the inauguration of the plant, the total annual production capacity of Qapco LDPE 700,000 tonnes. Qapco has on the current two LDPE production lines which together produce approximately 400,000 tonnes per year. The coming on stream of the new factory will also increase the combined annual production capacity of polyolefins, including LDPE and linear lowdensity polyethylene (LLDPE), 1.15 million tonnes per year.
Low density polyethylene is a tough, durable and flexible plastic polymer, an indispensable material for packaging applications all over the world.
Qatar Islamic Bank (QIB) had a QR730 million credit facility extended to Qapco for LDPE-3 plant. QIB was chosen as the source of financing from six banks. Qapco had planned to start the LDPE-3 plant in the second quarter of this year.
The engineering, procurement and construction (EPC) contract for the project was awarded to German company Uhde through an international tender for the project. Uhde is part of the Thyssen-Krupp Group and specializes in the construction of chemical and other industrial installations.
Qapco, one of the leading ethylene and polyethylene producers in the Middle East, was founded in 1974 as a joint multinational company to exploit the associated and non-associated gas from oil production ethane in accordance with the plan of the industrialization of Qatar.
Qapco began commercial production in 1981 and soon became well established in the global market for its commitment to quality and reliability. Qapco is jointly owned by Qatar Industries (IQ) with 80 percent share and Total Petrochemicals of France with 20 percent share. Qatar Petroleum (QP) IQ is controlled by which a share of 70 percent in the.
The remaining 30 percent of the shares is held by the public.
Qapco products reach more than 4,500 customers in 85 countries through its extensive marketing and agent network in strategic markets of the Middle East, Europe, Asia and far East. Qapco markets are LDPE under its well-known brand ' Lotrene ', which is recognized and respected by clients all over the world.
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