Qatar Petroleum (QP) and Norway's Hydro have signed the joint venture agreement for the estimated $3,500 million Mesaieed aluminium smelter project. The signing, which came 16 months after the two partners signed a heads of agreement, calls for the establishment of a 50:50 joint venture company, Qatalum, to build and operate the 585,000-tonne-a-year (t/y) smelter, casthouse and carbon plant, as well as a 1,350-MW captive power plant (MEED 10:2:06).
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