Shell signs deal with Qatar for $6.5 billion petrochemicals complex

DUBAI, United Arab Emirates — Royal Dutch Shell has signed a tentative deal with Qatar to jointly develop a $6.5 billion petrochemicals complex, The Associated Press reported.

The agreement will give the government run oil company Qatar Petroleum an 80 percent stake in the facility.

Shell will hold the remaining 20 percent, according to the report.

The plant aims to produce up to 1.5 million tons of mono-ethylene glycol, which is commonly used in antifreeze products, and 300,000 tons of the industrial chemicals known as linear alpha olefins per year.