Middle East Economic Survey


No 45



Q-Chem 2, Qatofin See Debt Creep Higher At Signing Amid Rising EPC Costs

The two Qatari petrochemical projects, Q-Chem 2 and Qatofin, have seen their debt creep higher in the run-up to the signing ceremonies with the banks, MEES learns. The original debt for Q-Chem 2 had been put at about $1.2bn, but climbed to $1.5bn, while Qatofins debt, originally $670mn, climbed to $760mn. These projects are the latest in a line of Gulf deals...