H E Dr Mohammed bin Saleh Al Sada with other officials after the signing ceremony.
DOHA: Qatar Petroleum (QP) and Qatar Petrochemical Company (Qapco) yesterday signed the Front-End Engineering and Design (FEED) contract with Tecnimont SpA, a leading construction company, for the QR20bn ($5.5bn) Al Sejeel Petrochemical Complex, which will be built in Ras Laffan Industrial City.
H E Dr Mohammed bin Saleh Al Sada, the Minister of Energy and Industry and Chairman and Managing Director of QP, witnessed the agreement signed by Hamad Rashid Al Mohannadi, Chairman of Qapco, and Pierroberto Folgiero, CEO of Maire Tecnimont Group.
The signing of the FEED contract with the global engineering and construction company marks a strategic milestone for the progress of the multi-billion dollar mega-petrochemical complex, in which QP and Qapco own 80 percent and 20 percent equity interest, respectively.
The project scheduled for completion in 2018, will feature one of the world’s largest mixed-feed steam crackers and is designed to produce 2.2 million MTPA of polymers, including PE and PP resins.
Dr Al Sada said that the Al Sejeel Petrochemical Complex will strengthen Qatar’s position as a leading global petrochemical producer.
Al Sada said: “This project is aligned with the principles of Qatar National Vision 2030, as launched and guided by the Emir H H Sheikh Tamim bin Hamad Al Thani. We are committed -more than ever - to the accomplishment of our growth objectives, and to meeting our economic needs while safeguarding the requirements of future generations.”
He also said: “Today is a clear demonstration of such a commitment. It is the vision of our leadership to harness the tremendous potential of the petrochemical sector and to embark on a large-scale expansion of our downstream industry. To this end, we aim to raise our petrochemical output to 23 million MTPA by 2020, thus supporting the growth and diversification of the Qatari economy. This will increase the universal reach of value-added “Made in Qatar” product portfolio across the globe.”
The complex will surely be unique in terms of its feedstock as it will assure production efficiency and access to a steady supply of critical chemical building blocks while increasing its global competitiveness.
Al Mohannadi said: “We have witnessed the tremendous progress achieved by our petrochemical industry, resting on the capabilities and skills developed by local talent. Today, Qatari leadership is the driving force of Al Sejeel, which makes the project truly special as it is the first time that two Qatari companies will develop together a complex of this scale. Al Sejeel has become a national symbol and I take great pride in this groundbreaking achievement.”
He added: “The complex will also develop the talents of the future. This unprecedented complex will offer more than 1,500 career opportunities for talented young Qataris willing to participate in building a sustainable future for our nation.”
The plants will be processing several feed types simultaneously, namely ethane, butane, and naphtha, ensuring an optimum use of natural resources and allowing extra flexibility and diversity in terms of products.
Folgiero said: “We are truly honoured to be awarded with this prestigious project which confirms the distinctiveness of Tecnimont’s long roots in the polyolefin sector.”
Later, Al Sada unveiled the official logo of Al Sejeel which is inspired by a chemical structure.