Qatar to seal $1bn chemical plant deal

Industries Qatar said on Wednesday it expects its fertiliser unit to complete talks this month with Italy's Saipem to build a chemical plant in the Gulf Arab oil and gas producer.

The contract could be worth more than $1 billion, Italy's Finanza & Mercati newspaper reported last week.

Saipem's engineering unit Snamprogetti is the only bidder, a Saipem spokesman said last week.

"The negotiations are set to be concluded by the end of September and the contract signing is slated for end of the current year," state-controlled Industries Qatar said. The unit is Qatar Fertiliser.

The Qafco-5 project consists of two ammonia plants with combined production capacity of 4,400 tonnes per day, and a urea plant with capacity of 3,800 tonnes per day, Industries Qatar said.

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