HE Minister of Energy and Industry Dr. Mohamed bin Saleh Al Sada said on Tuesday that Qatar has plans to set up a company to market petrochemical and chemical products. "A law to establish the new company has already been issued," HE Al Sada told reporters today after the launch of QAFCO-6 in Mesaieed Industrial City, adding that the process of completing administrative procedures relating to recruitment, locating its premeses among others are underway.
He noted that the team that will run the new firm will be from the existing companies, including Qatar Fertilizer Company (QAFCO).
Answering a question by Qatar News Agency (QNA) on the current Qatari production of petrochemicals, HE the Minister said there are significant developments in the industry of petrochemicals and fertilizers in Qatar, including three major projects. Two of which are in the field of petrochemicals, while the third is in advanced phase of study, he said.
"Several projects will be created under these major projects, and will consolidate Qatar's position in petrochemicals and chemical fertilizers industries," HE Al Sada noted.
On the new QAFCO-6 project, HE the Minister said: "With the start-up of this new plant, QAFCO 6, the company's annual production of urea will reach 5.6 million metric tons. This is a glorious example of continuity and stability which has led to eight folds expansion of its urea production over the past 15 years, establishing QAFCO as a key player in the global fertilizer market."
QAFCO Chairman Abdulaziz Bin Ahmed Al-Malki said: "The inauguration of our sixth production facility on the threshold of 40th year of production, will propel QAFCO to being the largest exporter and fourth largest producer of urea in the world. This will represent a major leap on QAFCO's scale of progress and further enhance our role in the economic development of Qatar."
Talking about fertiliser markets, Al-Malki said: "At present, we are exporting to more than 45 countries and this is bringing QAFCO to be one of the major fertiliser exporters in the world."
On future plans, Al-Malki said, "The future of QAFCO will never stop at where we are now. We do have a very ambitious planning and strategy ahead out of which with all the support of the team, management, QP and our shareholders, we will be very much dominating future markets."
QAFCO, Vice Chairman & CEO Khalifa Abdulla Al-Sowaidi said: "With the inauguration of QAFCO-6, 15 per cent of globally traded urea will be QAFCO's."
He added that, to be the largest producers of ammonia and urea in the world is a dream that QAFCO had cherished for long and with QAFCO-6 expansion it had taken yet another long stride towards that goal.
"High quality products, a strategic geographical location, efficient logistic facilities and reliability in supply are among the factors that have propelled the growth of QAFCO into a main producer and exporter of ammonia and urea in the world. The QAFCO-6 project will further enhance QAFCO's global standing," he added.