Qatar Petroleum handing over management of parts of its Mesaieed Industrial City operations

To better focus on its core business in the oil and gas industry, Qatar Petroleum (QP) will hand over the management and operation of some of areas within its concession in the Mesaieed Industrial City to the economic zones company Qatar Manateq.

The handover, to take place Jan. 1, includes the light industries areas east and west, the temporary storage site for gabbro and raw materials, the concrete zone and the medium industrial area.

"It comes in line with QP’s strategy to focus on its core business activity and to entrust non-core business activities to specialized companies in their respective fields of expertise,” Saad Sherida Al-Kaabi, president and CEO of Qatar Petroleum, said. "There are 200 existing projects in these areas which constitute a major tributary to the industrial growth witnessed by the state of Qatar. These projects play a big role in diversifying the economy and in transforming Qatar into a regional center for industrial activity and high value-added services as stipulated in the Qatar Vision 2030, the pillars of which guide Qatar Petroleum under the leadership of His Highness Sheikh Tamim bin Hamad Al Thani, the emir of the state of Qatar.”

“We are confident that Manateq is the perfect strategic choice to manage these areas by virtue of its being a specialized company in the management and development of lands for various industries and logistical investments in the country,” Al-Kaabi said.