Qatar awards $1.5bn refinery construction contract

Joint venture of Japan's Chiyoda Corporation and Taiwan's CTCI Corporation seals deal

(Photo for illustrative purposes only)

(Photo for illustrative purposes only)

Qatar has awarded a contract to build the $1.5bn 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 Mohammed 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 $1.5bn when Qatar Petroleum, the parent company of Qatargas, signed a joint venture agreement with a consortium led by France's Total in April.

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