is a joint venture between state-backed Industries Qatar, OPIC Middle East, LCY and IOL.
With the initiation of this project, QAFAC
has shown a desire to be a leader in reducing industrial greenhouse gases and playing a front line role as an environmentally conscious company.
Although MHI has previously licensed its CO2 recovery technology to many plants around the world, the QAFAC
order represents only the third licensing-plus-EPC order for one of its CO2 recovery plants.
has contributed a lot to the overall sales of both CPC and Lee Chang Yung.
A partnership between state-supported Industries Qatar, OPIC Middle East, LCY and IOL, QAFAC
, intends to become one of the five world leading producers of methanol and butane derivatives by 2020.
He added that this was the continuation of a phase of environmental improvements by QAFAC
and that one of the challenges faced by the industry in general was how to reduce the emission of greenhouse gases.
, established in 1990, and owned 50 per cent by QGPC, 20 per cent by Chinese Petroleum Corporation-CPC, 15 per cent by Lee Chang Yung Chemical Industry Corporation LCY-CIC and 15 per cent by International Octane Ltd -- IOL.
s Mesaieed Industrial City plant is located 50km south of Doha, the capital of Qatar.
produces MTBE using process technology licensed from UOP, a Honeywell company that is a leading developer of technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries.
signed a Corporate Loan Agreement with QNB for US $80 million to fund the establishment of the CO2 recovery plant, situated within Mesaieed Industrial City premise.
The $80m contract was inked between the Board Chairman of QAFAC
, Hamad Rashid Al-Muhannadi, and Vice President of Mitsubishi Heavy Industries, Naohito Hoshino at a ceremony attended by QAFAC
General Manager and Board Member, Nasser Al-Kuwari, and a huge number of department managers.
Mainly, the design of the project aims at improving methanol production process of QAFAC
which emits carbon dioxide as a waste gas.