QATAR: New firm for petrochemicals set up

Through its various entities, Qatar produces about 10 million tonnes of chemicals, polymers and fertilisers annually, which are sold to customers in more than 120 countries.

Muntajat, which in Arabic means products, has  been set up under an Emiri Decree (No 11 / 2012); it will operate through some 36 offices around the world with a dedicated team of more than 400 employees in addition to a number of logistic establishments and warehouses in "strategic regional locations”.

The company's  establishment was announced by Minister of Energy and Industry, Dr Mohamed bin Saleh al-Sada, also Muntajat chairman, in Doha on 23 Dec. 2012.

Speaking to local press reporters, al-Sada said an "articulated migration plan” had been put in place for "seamless transition” of the current marketing and sales  divisions in Qatar's chemicals and petrochemicals producers such as Qafco, Qapco, QVC and Qafac.

"We will do it in a staggered manner, beginning with QVC and Qafac,” al-Sada said.

"The establishment of Muntajat marks an important milestone in diversifying Qatar's exports portfolio. This new endeavour is testament to the vision of Emir Sheikh Hamad bin Khalifa al-Thani, to take our nation  closer to achieving its 2030 Vision and positioning Qatar as a key  player in global chemicals and petrochemicals markets.”

Muntajat is set to become the face of Qatar in the international chemicals and petrochemicals market, with a streamlined operation marked by its  logistics efficiency and economies of scales. It will consolidate Qatar's chemical and petrochemical marketing and distribution efforts  and bring these under a single entity, besides enhancing business and better serve global demands.

"The new company will support the growth of the local production industry and contribute to a diversified, knowledge-based economy that further expands and reinforces Qatar's best utilisation of its hydrocarbon resources.

"In addition to bringing added value to Qatar's chemical and petrochemical industry, Muntajat will create job opportunities for local talent and support a solid  knowledge sharing platform that elevates standards of living, reinforces the gross domestic product (GDP) and contributes to advancing Qatar's economy.”

Abdulrahman Ahmad al-Shaibi, vice chairman of the Board of  Directors and Chairman of the Technical Committee that oversaw the establishment of Muntajat said: "By consolidating the distribution and marketing channels of the country's chemical and petrochemical products, Muntajat immediately becomes one of the largest entities in the global chemicals and petrochemicals marketing industry.”

"Our strategy focuses on the provision of value added services to ensure efficient marketing and distribution channels extending to more than 120 countries around the world, and serving as a one-stop shop supplying Qatar's high quality chemical, polymer and fertiliser exports at competitive prices.

The establishment of Muntajat is close on the heels of Qatar's chemical and petrochemical industry inaugurating new state-of-the-art  plants in the country. Several new facilities planned in the industry  are to become operational in the next few years.

Strategic investments in the chemical and petrochemical infrastructure will boost Qatar's competitiveness in the global markets.

To meet the international  demand of chemical and petrochemical products, Muntajat will operate an  advanced supply chain programme to reduce product delivery lead times by  combining a multi-faceted approach with regional storage facilities  ensuring continuous supply.

Muntajat Chief Executive Officer  Abdulrahman Ali al-Abdulla said: "Muntajat will work towards achieving  its vision of becoming the world leader in the marketing and  distribution of chemicals, polymers and fertilisers by meeting customer  needs in a reliable and efficient manner. Our mission is to represent,  serve and promote the State of Qatar's chemical and petrochemical  industries, and capitalise on the opportunities available to return value to our stakeholders and contribute to the growth and development  of our country.”

Qatar will invest around $25 billion in its chemicals and petrochemicals portfolio until 2020 in line with the country's economic diversification, Minister of Energy and Industry, Dr Mohamed bin Saleh al-Sada said.

Qatar's petrochemical output will more than double to 23 million tonnes per year by 2020, he said.

Qatar currently produces about 10 million tonnes per year of chemicals, polymers and fertilisers. With growing global demand for these products, Qatar's increasing output is supplying and supporting the growth of a wide number of industries around the world.

The proposed investment of up to $25 billion is part of Qatar's economic diversification strategy and mission to increase its global market share in the chemicals and petrochemicals industries.

Source: Daily "Gulf Times", Doha; 24 Dec 2012

(Syed Rashid Ali, Karachi, Pakistan)