Mesaieed Petrochemical Holding Company, Qatar Industrial Manufacturing Company and Atlas Turkish Investments signed a memorandum of understanding to establish Qatar Salt Products Company.
According to a statement by Qatar Energy, which hosted the event, this strategic partnership is one of the initiatives of its Tawteen Program.
According to a statement by Qatar Energy:
- Mesaieed Petrochemical Holding Company’s share in the new company is 40%.
- Qatar Industrial Manufacturing Company’s share is 30%.
- The Turkish company Atlas Investments has a 30% stake.
Under the partnership, a salt production plant will be built in Umm Al Houl, Qatar, at an estimated cost of around QR1 billion ($266.5 million). It will be operated by Qatar Petrochemical Company (QAPCO) and Qatar Vinyl Company (QVC).
From the initiatives of Qatar Energy’s “Tawteen” program
A joint venture between Mesaieed Petrochemical Holding Company, Qatar Industrial Manufacturing Company, and the Turkish company Atlas to build a salt production plant #Qatar_Energy #Qatar pic.twitter.com/fdDkuxhz3R
— QatarEnergy (@qatarenergy) September 23, 2024
Self-sufficiency
Eng. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, and the President and CEO of QatarEnergy, said today: “We are pleased to establish this important joint venture that will support Qatar’s self-sufficiency through the production of industrial salts and table salt to meet local market demand, in addition to exporting to regional and global markets.”
He added, during the signing of the MoU, “I congratulate all partners and parties concerned with the establishment of Qatar Salt Products Company on this achievement, which will undoubtedly enhance supply chains and localize industries in the State of Qatar, in addition to contributing to achieving environmental sustainability.”
According to the statement, this project is the first of its kind in the region that uses modern technology that takes advantage of the brine resulting from the desalination plant.
The new plant will produce industrial salts needed in the petrochemical industry, in addition to bromine, potassium chloride and demineralized water, which will be produced at a later stage of the project, contributing to product diversification and economic growth.
With a production capacity of up to one million tons annually, the project will reduce dependence on imported raw materials, as Qatar imports about 850 thousand tons of industrial salts and table salt annually, according to the same statement.
