Honam to build plant in Qatar

South Korea’s Honam Petrochemical Corp. will invest US$390 million in a project to build a petrochemical plant in Qatar. Honam Petrochemical and Qatar Intermediate Industries Holdings Co. Ltd., a unit of state-owned Qatar Petroleum, have signed an agreement to work together on the US$2.6 billion project, Honam Petrochemical said. Qatar Intermediate Industries, as part of the deal, will invest US$910 million in the complex by the second half of 2011, said a Honam Petrochemical spokesman. (July 20, 2007)