Qatar to Develop Petrochemical and Steel Industries

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Arab Organization for Industrial Development and Mining recently issued a report praising Qatar's economic achievements in 2008 and 2009 and predicting the country's performance in the next few years. The report noted that Qatar was able to develop strategic plans for the exploitation of natural resources through an integrated investment program in the oil, gas and petrochemical industries, as well as build a large fleet of ships to transport Qatari gas to world markets and diversify the country's economic base.

The report lauded Qatar's achievements in the energy sector since 2008 and predicted that the country's gas production would reach 11 billion cubic feet per year in 2013.

Qatar Petroleum Chairman & Managing Director Abdulla bin Hamad Al Attiyah, who is Qatar's deputy premier minister of energy and industry, said: "We are proud to say that, despite the instability in the global economy since 2008, Qatar Petroleum remains focused on achieving long-term strategic targets and objectives. We have done so, confident in the knowledge that the success of investments in the energy industry is measured over decades, not months."

While the report pointed out that Qatar accounts for 11.3% of petrochemicals produced in the Middle East and North Africa, the report stated that the sector has average annual growth of 38% as a result of a Qatar's $14.9 billion development program, which will be completed by 2012.

Qatar's steel industry is also experiencing significant growth and currently contributes about 16% of Qatar's gross domestic product. Steel production has grown from 72,000 tons per year in 2000 to 1.4 million tons per year in 2008. Qatar Steel Company (Mesaieed, Qatar) has established an ambitious expansion program to raise steel production to 2.3 million tons. Sheikh Nasser bin Hamad al Thani, the director and general manager of Qatar Steel, said, "The Middle East is expected to produce over 60 million tons of raw steel by 2010, and Qatar Steel will be a forerunner in this production as it continues to deliver quality and reliability."

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