The Minister of Energy and Industry and Chairman of the Muntajat H E Dr Mohammed bin Saleh Al Sada (centre) at a press briefing in Doha yesterday. Abdulrahman Ahmed Al Shaibi (left), Vice-Chairman of the Board of Directors and Chairman of the Technical Committee, Muntajat, and Abdulrahman Ali Al Abdulla, CEO, Muntajat, are also seen.(Salim Matramkot)
By Satish Kanady
DOHA: Qatar has announced the launch of a single corporate entity which would hold exclusive rights to purchase, market, distribute and sell its chemical and petrochemical products to the global market. The launch of “Muntajat” or Qatar Chemical and Petrochemical Marketing and Distribution Company QJSC yesterday marks an important milestone in diversifying Qatar’s exports portfolio, which is set to take its chemical and petrochemical products to 120 countries through 36 global outlets, including seven regional hubs.
Mandated by an Emiri Decree, the establishment of Muntajat comes in parallel to Qatar’s chemical and petrochemical industry inaugurating new state-of-the-art plants with several new facilities planned to be operational in the next few years.
“Qatar will be investing around $25bn up until 2020 in its chemicals and petrochemicals fields. With the production expecting to double by this period, we have to prepare ourselves for the market expansion. We need a modern company managed by a world class governance to effectively market our existing 43 different products and more future products”, Minister of Energy & Industry and the Chairman of the Board of Directors of Muntajat H E Dr Mohammed bin Saleh Al Sada, said.
Currently, Qatar produces 10 million tonnes per annum of chemicals, polymers and fertilisers, supporting the growth of a wide number of industries around the world.
Dr Al Sada said the marketing arms of Qatar Fertiliser Company (Qafco) and Qatar Petrochemical Company (Qapco) would be integrated with Muntajat in due course. However, Qatar International Petroleum Marketing Company Ltd (Tasweeq), which is involved in marketing the Qatar’s “regulated products” and crude oil and GTL entitlements, will continue its operation and retain its identity.
“Muntajat is set to become the face of Qatar in the international chemicals and petrochemicals market. The new company will consolidate chemical and petrochemical marketing and distribution efforts into a single entity to provide adroitness in doing business and better serve global demands.
It 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, Al Sada added.
By consolidating the distribution and marketing channels of the country’s chemical and petrochemical products, Muntajat would soon emerge as one of the largest entities in the global chemicals and petrochemicals marketing industry, said Abdulrahman Ahmad Al Shaibi, Vice Chairman of the Board of Directors and Chairman of the Technical Committee of Muntajat.
“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.
Capitalizing on more than 20 years’ experience in the marketing and distribution of Qatar’s chemicals and petrochemicals products, Muntajat management’s vision is to position itself closer to its global customers by establishing a large spread network in key geographic locations around the world.” added Al Shaibi.
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.
Abdulrahman Ali Al Abdulla, Chief Executive Officer of Muntajat said: “Muntajat will work towards achieving its vision of becoming the world leader in the marketing and distribution of chemicals, polymers and fertilizers by meeting customer needs in a reliable and efficient manner. Our mission is to promote the Qatar’s chemical and petrochemical industries, and capitalize on the opportunities available to return value to our stakeholders and contribute to the growth of our country.”
The Peninsula
