Alwaseeta, previously known as Qatar Intermediate Industries Holding Company, will consider new and viable intermediate industrial projects utilising local feedstock, HE the Minister of Energy and Industry, Dr Mohamed bin Saleh al-Sada said yesterday.
Speaking to Gulf Times on the sidelines of a ceremony held to celebrate the company's rebranding, al-Sada said the company "would continue to focus on intermediate and small industries, capitalising on Qatar's feedstock availability and available expertise and infrastructure."
Alwaseeta has some assets abroad, although the company's main area of activity is Qatar.
The company is a shareholder of SEEF, which runs a world-scale linear alkyl benzene plant, Qatar Melamine Company (both at Mesaieed) and Gazal (for industrial gases).
SEEF's LAB plant located adjacent to QP Refinery in Mesaieed produces 100,000tpy of linear alkyl benzene.
Qatar Melamine Company with a production capacity of 60,000tpy is the largest melamine plant in the Middle East as well as one of the largest in the world.
It is a joint venture between Qafco and Alwaseeta.
"Alwaseeta will continue to set up more such companies utilising local feedstock", he said.
Al-Sada emphasised Alwaseeta was not among the QP companies that were planning to go public through an IPO.
On rebranding, al-Sada said it was done to avoid confusion since Qatar Holding was globally renowned as Qatar's investor in strategic assets worldwide.
Qatar Holding (QH) is a global investment house established in 2006, and founded by the Qatar Investment Authority (QIA).
Earlier in his address, al-Sada expressed gratitude to HH the Emir, Sheikh Hamad bin Khalifa al-Thani for his visionary guidance in the diversification of Qatar's industrial sector and his unwavering support of the company.
Company vice-chairman and managing director Ali Hassan al-Sidiky said, "I would like to thank HE Dr Mohamed bin Saleh al- Sada for all his support. Alwaseeta is responsible for developing new and viable intermediate industrial projects that can utilise latest technologies.
"We are committed to nurture and encourage innovative sustainable projects by establishing local and international partnerships that will support the expansion of Qatar's industrial base and diversification of the national economy.
"At Alwaseeta, we are creating rewarding career opportunities for nationals, which are essential for our business development in line with the National Development Strategy (2011-2016)."
The rebranding event held at the Four Seasons was attended by many foreign and local dignitaries besides executives from QP and its subsidiaries and affiliates.
© Gulf Times 2013
