By 2020, the overall petrochemical output of Qatar would exceed 23 million tons per year (tpy) due to expansion of the downstream sector, Dr. Mohamed bin Saleh al-Sada, Minister of Energy and Industry, has said.
In a speech delivered on his behalf at the inauguration of the Meed Qatar Projects 2013 conference, Dr. al-Sada said the Government has started a major expansion drive in downstream sectors of petrochemical industry to achieve greater diversification.
He said the total petrochemical production of Qatar will touch 23 million tons per year by 2020, which would enable the country to further consolidate its position as a leading international hub for the petrochemical industry.
A new phase has begun in Qatar’s economic development, as the Government has successfully re-invested revenues from oil and gas sector for diversification of the economy, the Minister said.
He invited global investors to participate in fast-growing economy of Qatar and contribute to its phenomenal transformation.