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.