Qatar Energy and Chevron Phillips Chemicals announced their final decision to invest in establishing the Golden Tiangel Polimat Factory in Texas, USA, at a cost of about $ 8. 5 billion.
According to the Qatar News Agency “Qena”, the new factory is located in the Gulf coast, Texas, about 180 km east of Houston, and includes a unit of ethylene with a capacity of 2.
08 million tons per year, making it the largest in the world, and two units for the production of high ethylene high The density is a total capacity of two million tons per year, which will make them the largest derivative production units of its kind in the world, and work will begin to build the factory immediately, as production is expected to start in 2026.
Qena explained that the factory will be owned by Golden Triange Polymers Company LLC, a joint venture that owns “Qatar Energy” in which a 49%stake, while “Chevron Phillips” has a 51%stake.
“Qena” indicated that “the project is expected to provide more than 500 full -time jobs, and about 4,500 jobs during its construction, which is the second largest investment for” Qatar Energy “in the United States after investing $ 11 billion in the” Golden Pass “project to produce and export LNG, which is currently being constructed, which is expected to start working in late 2024.
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The project also has “sustainable environmental characteristics, which is to reduce greenhouse gas emissions by about 25% than similar facilities in the United States and Europe,” according to “Qena”.
For his part, Saad bin Sharida Al -Kaabi, the Qatari Minister of State for Energy Affairs, Managing Director and CEO of “Qatar Energy”, said: “The decision made constitutes the largest investment of” Qatar Energy “in the petrochemical sector, and highlights Qatar Energy’s position as a player Main in the liquefied natural gas sectors, exploration and international exploration, as a global petrochemical product.
Saad bin Sharida Al -Kaabi added: “By adding our share of this new investment to our current production in the State of Qatar,” Qatar Energy “will be one of the largest petrochemical producers in the world, and the project will expand our existence in the United States, and will support local communities in the Golden Tiangel region in Texas by generating revenues of about $ 50 billion over 20 years, “Texas, noting that” when operating, the factory will produce polyethylene, which is used in the production of perennial goods such as natural gas and water pipes, and recreational products such as kayak and coolers, and used in The basic packaging materials used to protect and preserve food, and to maintain sterile medical supplies, will mainly sell the factory to the factory to Asia, Europe and Latin America.
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Source: “Qena”.
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