Qatar petroleum (QP) and US Exxon-Mobil declared on Monday they have signed principles of agreement to establish the world's largest petrochemicals plant.
According to the agreement, the US $ 2 billion project is planned to produce some 1.6 million tonnes of ethylene per annum. This quantity will be processed to produce some 420,000 tonnes of linear low-density polyethylene, 420,000 tonnes of low-density polyethylene and 420,000 tonnes of high-density polyethylene per year.
A letter of intent for the project will be inked next July, while construction works are expected to be completed in 2010.
