The production of ethylene in Qatar’s Petrochemical Company (Qapco) is expected to reach 720,000 tons by 2006, up from 535,000 tons in 2001. The company’s bottom line was up 16.6 percent in 2001 compared to the previous year. Net income totaled 497 million Qatari rials ($136.5 million) last year, up from QR426 million in 2000. The company exported 139,000 tons of ethylene in the year 2001, mostly directed towards the Asian markets of India and Indonesia.
QAPCO also manufactures low density polyethylene (LDPE) and other petrochemical products. Qapco is 80 percent owned by Qatar Petroleum, the state-owned oil and gas company. The remaining 20 percent stakes are divided between Atofina of France and ENI of Italy. Qapco has been producing ethylene and ethylene derivatives since 1981. — (menareport.com)
© 2002 Mena Report (www.menareport.com )