Industries Qatar, the state-controlled petrochemical and steel producer, put on hold plans to build the Al Sejeel petrochemical plant as it seeks alternative investments, the company said today in a statement posted on the Qatar Exchange website.
Industries Qatar announced that construction has been completed at the QR 145.5 million CO2 recovery plant of the group’s fuel additive joint venture, Qafac. This plant is the largest of its kind for methanol production in the world, and is designed to capture over 500 MT per day of carbon dioxide and utilize it in the production of methanol. The plant is expected to not only reduce Qafac’s greenhouse gas emissions, but simultaneously boost the group’s production of methanol by circa 46,000 MT Per Annum. The Al Sejeel project was valued at $5.5 billion to $6 billion.