DOHA - The Qatar Meat and Livestock Company, popularly known as Mawashi (livestock), has plans to diversify into shrimp farming, fish breeding and foodstuff trade.
The company has entered into a tie-up with a Bahraini firm to set up a joint venture costing some QR10m to start foodstuff trade. The joint venture is to be based in Doha.
The company has in cooperation with the Ministry of Municipal Affairs and Agriculture (MMAA) has also entered into a contract with a global consultancy specialising in the field of shrimp farming and fish breeding to assess initial feasibility of a mega project.
Final feasibility study would be conducted once the site for the venture has been decided.
The consultancy has also been asked to identify the location and it has been suggested that the most suitable area to base the shrimp and fish breeding project would be near Al Areesh coastline.
In another development, the firm plans to set up central markets in the townships of Umm Salal, Al Wakra and Al Rayyah, each covering an area of 20,000 sq metres.
Design and construction-related details are to be intimated to potential bidders by the end of the next month and the three markets are expected to be ready by July 2010.
The company's plans were outlined by the chairman, Khaled bin Mohamed Al Khater, at the annual general meeting (AGM) of its shareholders held at the Millennium Hotel here yesterday.
Profits in 2007 reached QR8.28m while total assets were QR221.38m with the shareholders' equity totalling QR186m.
© The Peninsula 2008
