QatarEnergy to construct integrated polymers facility in Texas
QatarEnergy has entered into an agreement with Chevron Phillips Chemical Company to jointly develop an USD8.5 billion integrated polymers facility in Orange, Texas.
The companies have made a positive final investment decision on the project and created a joint venture company, Golden Triangle Polymers Company. Chevron Phillips Chemical owns a 51% equity share in the joint venture and QatarEnergy owns 49%.
The project is expected to create more than 500 full-time jobs and approximately 4,500 construction jobs and generate an estimated USD50 billion for the community in residual economic impacts.
QatarEnergy legal department is headed by Mohammed Al-Mannai (pictured), general counsel and board secretary.
Vinson & Elkins advised Chevron Phillips Chemical Company in the transaction.