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Qatar - Qatar Petroleum (QP) on Tuesday has revealed plans to list around 49% of Qatar Aluminium's (Qatalum) shares on the Qatar Stock Exchange (QSE) by the end of 2018.
The decision will support Qatar’s local economy, CEO of QP Saad Sherida Al Kaabi has said.
"This is part of the government's plan to increase the participation of the private sector in the country's economic activity and supporting an investment climate capable of attracting capital, which is also one of the most important objectives of Qatar National Vision," Al Kaabi told local English-language newspaper Qatar Tribune.
The state-owned petroleum company is working now on the required procedures and approvals to complete the listing process on time, he added.
Moreover, the world’s biggest supplier of liquefied natural gas (LNG) will launch a new holding company that will acquire its stake in Qatalum.
Qatalum is a joint venture between Qatar Petroleum and Hydro Aluminium.
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