Speaking at the Finance & Investment Conference in London on 20 September, QVC general manager Hamad Rashed al-Nuaimi said that the feasibility study would look at three main options for expansion:
doubling vinyl chloride monomer (VCM) capacity;
doubling VCM capacity and introducing a polyvinyl chloride (PVC) capability;
undertaking a major debottlenecking of the existing complex.
QVC has capacity of 290,000 tonnes a year (t/y) of caustic soda, 180,000 t/y of ethylene dichloride (EDC) and 230,000 t/y of VCM. In August, the VCM and EDC units were operating at 110 per cent of design capacity. In addition to a possible expansion, QVC is considering refinancing or repricing $475 million worth of loans extended to part-finance its original complex.
QVC’s shareholders are Qatar Petroleum(25.5 per cent), Qatar Petrochemical Company (Qapco– 31.9 per cent), France’s Atofina(12.9 per cent) and Norway’s Norsk Hydro(29.7 per cent).