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Industries Qatar gains as QAPCO opens new polyethylene plant
- Qatar: Thursday, November 22 - 2012 at 18:07
The QE Index gained insignificantly Thursday and closed a tricky week at 8,409.85 points. Market bellwether share Industries Qatar (IQ) edged up by 0.30% to close at QR150.50. Deutsche Bank markets research has set a buy rating for the company and has set IQ's price target at QR164. Earlier in the day, Qatar Petrochemical Company (QAPCO), which is owned 80% by IQ, said Qatar's ruling Emir H. H. Sheikh Hamad Bin Khalifa Al-Thani inaugurated QAPCO's third low-density polyethylene plant. The QR2.3bn will produce 300,000 metric tons of LDPE a year. The plant will be able to produce 300,000 metric tons of LDPE per year which will push up QAPCO's annual production of LDPE to 700,000 metric tons per annum.
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Gérard Al-Fil, Financial JournalistThursday, November 22 - 2012 at 18:07 UAE local time (GMT+4)
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