FINANCIAL NEWS

Qatar to build USD2b refinery in Tunisia

17 May 2012

(MENAFN) Qatar’s minister for international cooperation, Khalid Al-Attiyah, stated that his government will resume the establishment of a USD2 billion Tunisian refinery, reported Arabian Business.

Al-Attiyah said that Qatar Petroleum won a bid in 2007 to set up the refinery, which would have an initial output capacity of 120,000 barrels per day (bpd), however, the project was put on hold.

Moreover, production at the refinery, Tunisia’s second, is expected to begin in 2014 or 2015, whereas output is estimated to grow to 250,000 bpd over time.

It is worth noting that due to the project’s high costs, Qatar may need another partner.

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