Japan-Taiwan venture to build Qatar refinery

Dubai: Qatar has awarded a contract to build the $1.5 billion (Dh5.5 billion) Laffan 2 refinery to a joint venture of Japan’s Chiyoda Corporation and Taiwan’s CTCI Corporation, state-run Qatargas said on Tuesday.

The contract to build and commission the light oil refinery was signed by Qatari energy minister Mohammad Al Sada and the heads of the two east Asian engineering companies in Doha on Tuesday.

No financial details were given. The project was valued at $1.5 billion when Qatar Petroleum, the parent company of Qatargas, signed a joint venture agreement with a consortium led by France’s Total in April.