Qatar Industrial Manufacturing Co inks deal with Indian firm
Yesterday inked a deal with KLJ Organic Products Limited of India to set up a KLJ-Qatar for organic products with an investment of approximately QR300m.
QIMC Chairman, Sheikh Abdul Rahman bin Mohammed bin Jabor Al Thani told reporters after the signing ceremony that the new company's capital will be split between QIMC with 51 percent stake and Indian partners with 49 percent.
He said the project is the first of its kind in Qatar and the region, since there is no similar project that produces locally products such as certain types of paraffin, calcium chloride or hydrochloric acid etc.
Most of the new company's production will be exported to markets in the region and overseas with the Indian partners handling the marketing of about 70 percent of the total production to international markets, while 30 percent of the production will be consumed in the local Qatari market.
The construction of the project is expected to commence by mid 2010 and will take two years to complete with a production capacity of approximately 56,000 tonnes per year of the basic product such as heavy paraffin. The various products from the project on completion will include 56,100 tonnes of paraffin, 39,600 tonnes of calcium chloride and 56,100 tonnes of hydrochloric acid per annum. A site has already been allotted in Messaieed Industrial City for the project.
Currently the environmental assessment is being made.