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Muntajat to market & distribute Qatar petrochemicals
26
Dec '12
courtesy: MENA financial network
courtesy: MENA financial network
The Government of Qatar has launched Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat), a single firm having exclusive right to buy, market, distribute and sell all specified regulated chemical and petrochemical products produced in the country to other countries and regions in the world.
 
During a media briefing organized to announce the launch of Muntajat, the Minister of Energy and Industry and Muntajat Chairman Dr. Al-Sada noted that while global demand for chemicals and polymers is on a rise, Qatar, with its rising production is supplying and supporting several industries across the globe.
 
He said having reinforced its position as a maker and key source of chemicals and polymers, Qatar now intends to focus more on extensive expansions with Muntajat looking ahead to establish Qatar as world’s leading chemical and petrochemical hub.
 
As a part of its economic diversification strategy and its aim to expand its share in global chemical and petrochemical industry, the country intends to invest about US$ 25 billion in the petrochemical industry by 2020 to boost its petrochemical production from existing 10 million tons to around 23 million tons by 2020, he said.
 
The Minister noted that Muntajat has been launched to form a base for the high levels of production targeted by the country. The country is currently the second largest producer of petrochemicals in the Gulf region and intends to double its production by 2020, and Muntajat can greatly help in achieving this goal, he added.
 

Fibre2fashion News Desk - India

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