GulfBase Live Support
29/06/2016 02:39 AST
As part of its strategy to focus on its core business in the oil and gas industry, Qatar Petroleum (QP) will hand over the management and operation of some of areas within its concession in the Mesaieed Industrial City to the Economic Zones Company Qatar (Manateq).
The handover, which will take effect on January 1, 2017, includes the Light Industries Area (east), Light Industries Area (west), Temporary Storage Area for gabbro and raw materials, Concrete Zone, and the Medium Industries Area.
QP president and CEO Saad Sherida al-Kaabi expressed pleasure at the move saying “it comes in line with QP’s strategy to focus on its core business activity and to entrust non-core business activities to specialised companies in their respective fields of expertise.”
Al-Kaabi said, “There are 200 existing projects in these areas, which constitute a major tributary to the industrial growth witnessed by the State of Qatar.”
He said, “These projects play a big role in diversifying the economy and in transforming Qatar into a regional centre for industrial activity and high value-added services as stipulated in the Qatar Vision 2030, the pillars of which guide Qatar Petroleum under the leadership of HH Sheikh Tamim bin Hamad al-Thani, the Emir of the State of Qatar.”
“We are confident that Manateq is the perfect strategic choice to manage these areas by virtue of its being a specialised company in the management and development of lands for various industries and logistical investments in the country,” al-Kaabi added.
The Light Industries Area (east) hosts some 114 construction and light industries; while the Light Industries Area (west) is dedicated to the heavy industry support services companies, as well as some other light industries.
The third area is the Temporary Storage Area for gabbro and raw materials such as cement and other building materials, which includes 58 companies.
The fourth area is the Concrete Zone, where construction industries, especially cement, are located; while the medium industries area hosts detergent, sulphur, fertilisers, organic materials, and acids products industries.
QP is responsible for all phases of the oil and gas industry in Qatar.
The principal activities of QP, its subsidiaries and joint ventures are the exploration, production, local and international sale of crude oil, natural gas and gas liquids, refined products, synthetic fuels, petrochemicals, fuel additives, fertilisers, liquefied natural gas (LNG), steel and aluminium.
The operations and activities of QP and its affiliates are conducted at various onshore locations, including Doha, Dukhan and the Mesaieed and Ras Laffan Industrial Cities, as well as offshore areas, including Halul Island, offshore production stations, drilling platforms and the North Field.
Gulf Times
05/04/2018
Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa
Arab News
05/04/2018
In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.
A massiv
Arab News
05/04/2018
Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices
The National
05/04/2018
Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re
Times of Oman
05/04/2018
Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i
The Peninsula