Petchems company has earmarked over QR12bn for capital investment from 2011 to 2015
Industries Qatar, the second-
biggest petrochemicals company in the Middle East, expects profit to reach
almost QR7.7bn ($2.11bn) by 2015 as revenue grows to over QR25bn.
The company has earmarked over QR12bn
for capital investment from 2011 to 2015, after spending QR9.8bn in the
previous five years, it said in a statement about its business plan received by
e-mail on Thursday.
“While 2010 was dominated by the
petrochemical and steel segments, 2011 is set to be a landmark year for our
fertiliser business,” Abdulrahman Ahmad Al Shaibi, the company’s chief
coordinator, said in the statement.
Its unit Qatar Fertilizer Co will
start producing from the Qafco-5 project towards the end of the year, according
to the statement.