12:04 - 9.01.2023

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January 9, Fineko/abc.az. An agreement marking the positive final investment decision for the project was signed by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and by Bruce Chinn, President and CEO of Chevron Phillips Chemical, at a ceremony in Doha, ABC.AZ reports, quoting Emirate's minister.

"The parties have signed several agreements on development of Ras-Laffan industrial zone specializing in petrochemical production. The cost of the joint project is $6 bn," al-Kaabi said.

The minister said that the companies created a joint venture, Ras Laffan Petrochemicals, in which QatarEnergy owns a 70% equity share and Chevron Phillips Chemical owns 30%.