Qatar Navigation Q.S.C. today announced that its fully-owned subsidiary, Qatar Shipping Co., has been awarded a QAR 1.875 billion contract by Qatar Petroleum.
Under the terms of the contract, Qatar Shipping will provide and operate harbor tugs, pilot boats and mooring gangs for Mesaieed Port for a period of 20 years from August 2014. Qatar Shipping will construct 19 boats in the coming three years to service this contract.
Qatar Shipping Co. already operates the harbor tugs, pilot boats and mooring gangs at Mesaieed Port and this operation is expected to continue until the commencement of the new contract. Mr. K.K. Kothari, CEO of Qatar Shipping, said "This is an extremely gratifying award and is a validation of the quality of the services we provide currently."
Mr. Khalifa bin Ali Al-Hetmi, Qatar Navigation's President and CEO said that "we are pleased to be able to build on our long-standing, extensive relationship with QP across a number of our business units."
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About Qatar Navigation
Qatar Navigation was established in July 1957, as the first public shareholding company registered in Qatar and holds commercial registration number (1). The aim in establishing the company was stimulating growth in the Qatari economy through the provision of shipping, transportation, and handling services necessary to link Qatar with the rest of the world. The company has since evolved, expanded and diversified into maritime transportation, port management, shipping agencies, logistics services, ship repair and fabrication, trading activities, as well as real estate development and asset management.
Qatar Navigation owns 100% of Qatar Shipping (Q-Ship) as well as Halul Offshore Services Company (HOSC) - one of the largest specialized companies in the region in the provision of offshore marine services to the oil and gas sector. Qatar Navigation also has a 50% stake in Qatar Quarries and Building Materials Company, a 30% stake in Qatar Gas Transport Company (Nakilat), and owns 50% of Gulf LPG. The Company has smaller stakes in a number of other associated companies.
Qatar Navigation (QNNS) is publically listed on the Qatar Exchange and represents almost 5% of the Qatar Exchange Index. For further details please visit the company's website www.qatarnav.com or see the company's results on the Qatar Exchange website www.qe.com.qa.
For additional information, kindly contact:
Corporate Communications Department
Tel: +974 4494 9624; Fax: +974 4483 3244
Email: nadine@qatarnav.com
© Press Release 2011
