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FINANCIAL NEWS
Industries Qatar profit to decrease in 2012, bounce back in 2013
26 Apr 2011
(MENAFN) Industries Qatar stated that its new plans would decrease its profits 6 percent to USD1.2 billion next year but would boost them to USD1.37 billion in 2013, reported Bloomberg.
The second-biggest petrochemicals company in the ME also said that the plans would raise its revenue to USD4.19 billion in 2012 and further increase it to USD4.6 billion in 2013, up from this year’s USD3.97 billion.
Industries Qatar added that it has plans to establish two fertilizing plants, a polyethylene facility and two steel plants by 2015. The firm pointed out that it has stakes in petrochemicals, steel manufacturing and fertilizers.
It is worth noting that Qatar, the world’s third-largest in natural gas reserves, eyes increasing its petrochemicals output to 28 million tons by 2014, as its former Energy Minister stated.
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