Bringing Qatar’s petrochemical sector under a single organisation
Muntajat, a newly formed company in Qatar, will have the sole rights to market and distribute Qatar’s chemicals and petrochemicals, which produces 10 million tonnes of chemicals, polymers and fertilisers a year.
Qatar will also be investing around US$25 billion (QR91 billion) in its chemical and petrochemical sector over the next eight years. His Excellency Mohammed bin Saleh Al Sada, minister of energy and industry, and chairman of the board of directors of Muntajat, explained, “Muntajat’s activities will consolidate chemical and petrochemical marketing and distribution efforts into a single entity to provide adroitness in doing business and better serve global demands.”
According to Abdulrahman Ahmad Al Shaibi, vice chairman of the board of directors and chairman of the technical committee that oversaw the establishment of Muntajat, by consolidating the distribution and marketing channels of the different chemical and petrochemical products, Muntajat immediately becomes one of the largest entities in the global chemicals and petrochemicals marketing industry. The establishment of the new company comes parallel with the industry inaugurating several new plants, with more facilities planned to go operational in the coming few years. It is expected that the investments made will boost Qatar’s competitiveness in global markets.