Qatar based Qatra for Investment and Development group (QID) Hamad Bin Suhaim Enterprises have signed a deal to acquire 49% of China’s Shandong Dongming Petrochemical Group worth $5 billion. The deal will allow the building of liquefied natural gas terminal with a 3 million tonne per annum of annual capacity in the region of Qinzhou and building of 1000 petrol stations across six provinces in China.
The deal is likely to be finalized by the fourth quarter of this year with the cash which is used to finance number of projects being operated in Shandong.
