Qatar Industrial Manufacturing Company (QIMC) was established in 1990 with 20%:80% government-private equity interests respectively. The establishment of QIMC was in fact a clear manifestation of the particular attention given by the State of Qatar to the issue of the private sector’s participation in the process of the country’s economic development through investing in small and medium scale industries.
QIMC’s initial authorised capital was set at 200 million QR (US$ 55 million), and was fully paid by 2002. In 2006, capital was increased by 50% to 300 millions QR. In 2009. capital was increased by 20% to 360 QR million. In 2010, capital was further increased by 10% to 396 millions QR.
The Extra-ordinary General Assembly of QIMC held on the 2nd March 2014, approved the distribution of bonus shares equivalent to 20% of the company’s share capital for the year 2013. This amendment increased the Company’s share paid-up capital to QR 475.2 million, distributed over 47,520,000 shares, having a nominal value per share of QR 10, as in 31st December 2014. In 2019, and based on the decision of the Qatar Financial Market Authority, the number of shares was modified to 475,200,000 shares, and the nominal value of each share is QR.1.
QIMC started business in May 1990, only to become within a short period of time, one of the pioneering companies in the field of small and medium scale industries in Qatar. Far from being confined to the State of Qatar, QIMC‘s activities have extend to other GCC countries such as Oman.
Currently, QIMC has equity interest in 20 operational projects in diverse industrial sectors including chemicals, petrochemicals, construction materials and food processing, while one more project is under commissioning. QIMC is also currently investigating the economic feasibility of a number of other projects in collaboration with other local and foreign interested parties.
QIMC’s investment strategy is essentially driven by the fundamental principle of investing in economically viable industrial projects that utilize locally/ regionally available natural resources/ intermediate products. QIMC also views its investment activity in the wider economic development context, and for that reason, it strives to maximize the macroeconomic benefits resulting from its investment activity to the national economy in terms of employment opportunities for the national labour force, transfer of modern technology and contribution to the country’s balance of trade.
QIMC welcomes the proposals from investors and technology know-how holders for joint ventures in viable medium sized projects.