Aamal enters the transportation industry

Doha - Aamal Company Q.S.C. announced Tuesday the establishment of a new subsidiary, Aamal for Maritime Transportation Services.

AMTS will take ownership of vessels initially to transport aggregates from Al Fujairah in the UAE to Mesaieed Industrial City in Qatar. AMTS will ensure security of supply for Aamal's owned subsidiary Gulf Rocks, a leading importer and provider of high quality gabbro aggregates, which are widely used in concrete products essential to Qatar's infrastructure development program as part of its National Vision 2030.

In addition to meeting Aamal's transportation requirements, AMTS will make capacity available to third party operators to optimize the vessels' utilization rates and profitability. The vessels are capable of shipping non-industrial commodities such as grains as well as aggregates and similar industrial raw materials.

In line with Aamal's strategy to partner with world class specialists with the requisite skills and experience to enter new markets and services successfully, operational management of AMTS's vessels will be undertaken by Peter Döhle Group, one of the world's leading providers of international shipping services, under a fixed term rolling service agreement.

Commercial operations will start immediately as the acquisition of the first vessel, a bulk carrier with a capacity of 56,726 tons, has been completed.