Chief Executive Officer of Manateq, Fahad Rashid Al Kaabi.
The Economic Zones Company- Qatar (Manateq) has announced to invest over QR10bn in developing infrastructure in various industrial zones, the Chief Executive Officer of Manateq, Fahad Rashid Al Kaabi, (pictured) told The Peninsula in an exclusive interview, yesterday.
This massive amount of money will be spend on developing basic infrastructure facilities such as water, electricity and sewer system in new projects over the next five years. This estimated investment of QR10.3bn ($2.83bn) is new allocation, and does not include Manateq’s other projects which are already under development or at the verge of completion, said the CEO of the state-backed company.
“Today we held our Annual meeting and discussed the five-year plan, which is in line with the government’s strategy and long-term vision. During the meeting we discussed a lot of items on the agenda of the meeting, including our future projects which are worth approximately QR10.3bn,” Al Kaabi told this newspaper over telephone.
Al Kaabi added: “These projects include infrastructure development in new industrial zones in Mesaieed, Al Khor, Al Ruwais logistics area and also a part of Al Karaana industrial complex.
He said that during the meeting, senior officials of Manateq also discussed some operational efficiency and strategic modifications of the economic zones company which is overseeing the development and operation of various logistics parks, warehousing complexes, and industrial zones across the country. These projects are part of the Qatar’s long-term vision to transform and diversify the energy-rich economy into a well-developed and sustainable society by 2030.
“Manateq’s Annual Planning Forum was held today. This year was focused on “Providing Practical Solutions Towards Excellence”. The annual forum is an important part of Manateq’s mission to create business environment that enables investors to deliver value added products & services,” said the company on its official twitter handle, yesterday.
Senior officials of Economic Zones Company- Qatar (Manateq) attending the company’s Annual Planning Forum, yesterday.
Manateq’s new Mesaieed Industrial Zone is located within Mesaieed Industrial City (MIC) and only 30km south of Doha. The upcoming industrial complex will be a hub for the petrochemical, chemical fertiliser, oil refining, metallurgical, workshops and primary building material sectors in Qatar, according to the company’s website.
Al Kaarana and Al Khor industrial zones offer all the logistic needs to the business ventures that require open yards, by providing a varied range of plots in addition to the added incentives such as the competitive rent rate and short-term lease contracts.
Manateq recently launched new plot leases in its Birkat Al Awamer Logistics Park, designed for investors. The 9.4 million sqm park - one of five logistics projects being developed by Manateq - is designed to appeal to companies wanting to build their own facilities through providing them comprehensive solutions that will allow them to build warehouses or workshops, commercial showrooms, offices, and staff accommodation all in one piece of land.
Al Kaabi told this newspaper last week that Manateq was overwhelmed by the huge response it received from the investors and businesses who have expressed interests to invest in its various projects, especially for the newly announced Birkat Al Awamer Logistics Park land plots, said a top official of the state-owned company.
