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FINANCIAL NEWS
Qatari Qapco, Taiwanese CTCI ink USD165.84m deal
12 Mar 2012
(MENAFN) Qatar Petrochemicals Company (Qapco) said that the firm inked a USD165.84 million contract with Taiwan’s CTCI Corporation to renovate the firm’s plant machinery, reported The Peninsula.
The company added that CTCI won the tender contract, with the additional optional requirement of USD48.32 million, bringing the total investment cost of Phase I to USD214.17 million.
It also said that the Phase I of the project would include the installation of new furnaces and ethylene storage tank, and would integrate the latest technology in the market.
It is worth noting that the project would use the latest technology in combustion, waste control and on-line monitoring, which would significantly cut Nitrogen Oxides (NOx) emissions and reuse coke inside the furnaces that would prevent contamination of the environment.
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