The Qatar Exchange 20 Index fell by 0.24 per cent to close at 11,340.12 points on Sunday, March 23. Qatar Additives Fuel Company (QAFAC) slipped by 0.04 per cent to QAR247.90. Earlier in the day, the firm revealed in a filing to the bourse that US-based technology firm, Honeywell – with shares listed on the New York Stock Exchange – will supply a new integrated control and safety system. “The overhaul will help QAFAC’s Mesaieed Industrial City plant, located 50 kilometres south of Doha, to reduce operating costs, as well as improve efficiencies for the production of methanol and MTBE (methyl tertiary butylether), a key gasoline additive that helps to replace lead and reduce tailpipe emissions. Honeywell’s integrated control and safety solution, including a new fire and gas system, will improve automation at the plant, increase cyber security and enhance operator effectiveness, according to QAFAC.
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