22 April 2004
DOHA: Qatar Shipping Company QSC (Q-Ship) and Mannai Corporation QSC (Mannai) yesterday signed a landmark deal in EPC construction history of Qatar whereby all assets, manpower, and activities of Mannai’s 30 years old flagship company “Mideast Constructors WLL (Mecon)” will be acquired by a joint venture company “Qatar Engineering & Construction Company WLL (Qcon)”.
“Qcon will be 55 per cent owned and controlled by Q-Ship whereas Mannai will have the balance of 45 per cent. With an estimated initial capital of QR40m, Qcon becomes one of the largest Qatari construction companies with the rich EPC experience of Mecon”, said Salem Butti Al Naimi, chairman of Q-Ship and Qcon.
Nasser Al Romaihi, chief executive officer of Q-Ship and a director of Qcon said, “This is a conscious diversification of Q-Ship into the booming construction industry of Qatar. In 2002, Q-Ship commenced its diversification effort by a modest start of establishing Qatar Engineering and Technology Company (Q-Tech).”
He further added that in 2003, Q-Ship acquired offshore EPC construction assets of Mannai Marine in Mesaieed and its yard is currently engaged in construction of offshore structures.
“The addition of Qcon will secure the ability of onshore EPC construction activity. With the wide gamut of onshore and offshore EPC capabilities combined with O & M abilities, Q-Ship can offer integrated services to the clients. This will enable it to fill-in a long pending demand of a local large-scale professional EPC and C&M set-up in the State of Qatar”.
Qcon capabilities amongst others include large project and construction management, fabrication, construction and installation of structures, furnace equipments, process and other piping; fabrication and erection of cryogenic and ambinet storage tanks; fabrication and installation of modular skids; mechanical, electrical and instrument works, EPIC disciplines associated with projects, preventive and shutdown maintenance and refurbishment works, and detailed engineering services.
Also present at the press release luncheon were Sheikh Nasser bin Hamad Al Thani, director of Q-Ship and Qcon, from Q-Ship, Brij Singhal, assistant chief executive, Rajiv Pal, manager Business Department & Planning and Braj Gupta, head of Corporate Accounts; and from Mannai, Ahmed Mannai, honorary chairman, Keith Higley, chief executive officer, George Royle, chief financial officer and Robert Walker, general manager of Mecon.
DOHA: Qatar Shipping Company QSC (Q-Ship) and Mannai Corporation QSC (Mannai) yesterday signed a landmark deal in EPC construction history of Qatar whereby all assets, manpower, and activities of Mannai’s 30 years old flagship company “Mideast Constructors WLL (Mecon)” will be acquired by a joint venture company “Qatar Engineering & Construction Company WLL (Qcon)”.
“Qcon will be 55 per cent owned and controlled by Q-Ship whereas Mannai will have the balance of 45 per cent. With an estimated initial capital of QR40m, Qcon becomes one of the largest Qatari construction companies with the rich EPC experience of Mecon”, said Salem Butti Al Naimi, chairman of Q-Ship and Qcon.
Nasser Al Romaihi, chief executive officer of Q-Ship and a director of Qcon said, “This is a conscious diversification of Q-Ship into the booming construction industry of Qatar. In 2002, Q-Ship commenced its diversification effort by a modest start of establishing Qatar Engineering and Technology Company (Q-Tech).”
He further added that in 2003, Q-Ship acquired offshore EPC construction assets of Mannai Marine in Mesaieed and its yard is currently engaged in construction of offshore structures.
“The addition of Qcon will secure the ability of onshore EPC construction activity. With the wide gamut of onshore and offshore EPC capabilities combined with O & M abilities, Q-Ship can offer integrated services to the clients. This will enable it to fill-in a long pending demand of a local large-scale professional EPC and C&M set-up in the State of Qatar”.
Qcon capabilities amongst others include large project and construction management, fabrication, construction and installation of structures, furnace equipments, process and other piping; fabrication and erection of cryogenic and ambinet storage tanks; fabrication and installation of modular skids; mechanical, electrical and instrument works, EPIC disciplines associated with projects, preventive and shutdown maintenance and refurbishment works, and detailed engineering services.
Also present at the press release luncheon were Sheikh Nasser bin Hamad Al Thani, director of Q-Ship and Qcon, from Q-Ship, Brij Singhal, assistant chief executive, Rajiv Pal, manager Business Department & Planning and Braj Gupta, head of Corporate Accounts; and from Mannai, Ahmed Mannai, honorary chairman, Keith Higley, chief executive officer, George Royle, chief financial officer and Robert Walker, general manager of Mecon.
© The Peninsula 2004
