We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Thu 24 Mar 2011 04:09 PM

Font Size

- Aa +

Industries Qatar targets $2.11bn profit by 2015

Petchems company has earmarked over QR12bn for capital investment from 2011 to 2015

Industries Qatar targets $2.11bn profit by 2015
Industries Qatar, the second- biggest petrochemicals company in the Middle East, expects profit to reach almost QR7.7bn ($2.11bn) by 2015 (Getty Images)

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.

 

Arabian Business: why we're going behind a paywall

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.