LCY Middle East Corp (LCYMEC) was established as an investment vehicle associated with the LCY Group, a prominent Taiwanese chemical manufacturer founded in 1965. It served as one of the original partners in the joint venture that created Qatar Fuel Additives Company (QAFAC) in 1991, alongside Industries Qatar, OPIC Middle East Corporation, and International Octane LLC.
The entity facilitated LCY Group's participation in QAFAC's development and operations in Qatar. QAFAC commenced production in 1999 at its facility in Mesaieed, becoming a significant producer of methanol (approximately 982,350 tons per annum) and MTBE (approximately 610,000 tons per annum) using ICI and UOP technologies, respectively. These products support global fuel and chemical industries while contributing to emission reductions.
LCY Middle East Corp operated primarily within the petrochemical sector in the Middle East, reflecting the parent company's strategy of international expansion in performance materials and industrial chemicals. The LCY Group maintains a broad portfolio including thermoplastic elastomers, polypropylene, electronics materials, and sustainable technologies, with operations across Taiwan, China, the United States, and other regions.
In June 2024, the joint venture agreement for QAFAC concluded, resulting in full ownership by Qatari entities QatarEnergy and Industries Qatar. LCY Middle East Corp represented the group's targeted involvement in regional petrochemical projects until that point.
Also known as LCY Middle East Corporation.
Joint Venture Agreement among four partners concluded in June 2024, leaving QAFAC fully Qatari-owned and altering its ownership structure.
