Industries Qatar advances, eyes petrochemical investments
In Doha, the Qatar Exchange 20 index added 0.45 per cent to reach 11,916.42 points on Sunday, January 18.
The market’s bellwether share Industries Qatar, which represents over 20 per cent weight in the QE 20 Index, closed 0.76 per cent to hit QAR146.10.
Earlier in the day, the group said that it is conducting a number of detailed feasibility studies in order to take advantage of the ethane feedstock available following the decision not to proceed with the proposed Al Karaana Petrochemicals Project.
“These studies will be conducted in collaboration with Qatar Petrochemical Company, Qatar Chemical Company and Ras Laffan Olefins Cracker Company, in order to develop and expand the number of petrochemical plants with beneficial returns for these companies, and to the petrochemical sector in general,” said the firm.