Qapco to supply ethylene to Finolex

Dubai, April 10: Qatar Petrochemical Company (Qapco) has signed a contract with Finolex Industries for sale of 22,500 metric tonnes (MT) of ethylene and 40,000 MT-60,000MT of ethylene dichloride and vinyl chloride monomer.

Supplies to Finolex will begin from January 1 next year and the contract is valid until Dec 31, 2009.

''We are back here after 13 years,'' Finolex Industries Chief Operating Officer Saurabh Dhanorkar said adding that his company signed the first ethylene supply contract with Qapco in 1994.

Finolex would use Qapco's and QVC's purchased raw materials for its PVC plant in India, Mr Dhanorkar said.

However, the companies did not divulge total cost of the deals.

Qapco has a major presence in India with three liaison offices in Mumbai, Delhi and Chennai.

''This will help us grow our business further in India,'' Qapco Vice-Chairman and General Manager Hamad Rashid al-Mohannadi said.

The Finolex Group is engaged in diverse areas such as chemical, petrochemicals, electrical products and telecommunications.

UNI