Partners to invite bids for Qatari plant
Qasenco, a joint venture planning to build a methanol plant at Umm Said, Qatar, will issue prequalification documents to contractors in early July. Partnership agreements to form the joint venture are expected to be concluded at the beginning of June. Qatar General Petroleum Corp. (Doha) will hold 50%. The remaining share will be split between Petronas (Kuala Lumpur) and Penspen (London). Other shareholders may also join. Market studies for the 2,500-m.t./day plant were based on ICI`s technology, but the partners want to look at other available processes-including Mitsubishi Gas Chemical`s-before committing to the $400-million venture. Schroder Wagg (London) has been appointed as the project`s financial adviser. About 30% of the financing is expected to come from equity and the rest as longterm credit. Petronas, the Malaysian state-owned energy company, already owns a 2,000-m.t./day methanol plant at Labuan but needs more product for its customers in the Far East. The company is interested in taking at least 50% of the output from the Umm Said plant.
- OSTI ID:
- 482427
- Journal Information:
- Chemical Week, Vol. 154, Issue 19; Other Information: PBD: 18 May 1994
- Country of Publication:
- United States
- Language:
- English
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