Chevron Phillips and Qatar Petroleum plan to invest $8 billion in building petrochemical facilities

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　　Chevron Phillips said on July 9 that the company had signed an agreement with Qatar Petroleum to build a $8 billion petrochemical complex off the coast of the Gulf of Mexico in the United States. 　　Both parties plan to make a final investment decision on the project by 2021. The complex is expected to begin operations in 2024. Chevron Phillips said that once completed, the complex will feature a cracking unit with a capacity of 2 million tons per year and two HDPE units with a capacity of 1 million tons per year each. 　　Chevron Phillips will hold 51% of the shares in the project, while Qatar Petroleum will own the remaining shares. 　　This is the second deal recently announced by Chevron Phillips and Qatar Petroleum. In early June, the two companies agreed to develop a joint petrochemical project in Qatar. Time: 2019-7-11 10:39:30 Source: Sinochem New Network