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Qatar: Qatar Petroleum To Offer 49% In Qatalum For Public Offering

Qatar: Qatar Petroleum To Offer 49% In Qatalum For Public Offering

Qatar Petroleum will be offering 49% of its shares in Qatalum for public offering, so as to offer Qatari nationals shares in state-sponsored companies that enjoy safe investment environment and lucrative returns.

As part of the State's plan to increase the participation of the private sector in economic activity and supporting an investment climate capable of attracting capital, this is an important step in implementing Qatar National Vision 2030's goals in developing a diverse and competitive national economy capable of securing a high standard of living. These are among the most important economic objectives of Qatar National Vision.

During the last quarter of this year, it is expected that the necessary procedures and approvals will be taken for listing on the Qatar Exchange. A holding company will also be established by Qatar Petroleum that will acquire Qatar Petroleum's stake in Qatalum.

With a total revenue of 5.1 billion Qatari Riyals and a net profit of 660 million Qatari Riyals in 2017, Qatalum, a jointly owned by the Norwegian company Hydro, is one of the most successful joint ventures of Qatar Petroleum.

Producing about 645,000 tons per year of high quality aluminum to its customers in Asia, Europe and the United States, its facilities include a carbon plant, port and storage facilities and as well as a gas-fired power plant. PWKD09052018

Last modified onWednesday, 09 May 2018 04:26
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