Muntajat achieves its initial commercial milestones

Effective 1st February, Muntajat has assumed responsibility for the marketing, sales and distribution of the Methanol and methyl tertiary-butyl ether (MTBE) produced by QAFAC and has also taken its first order for these products. The two products are part of the regulated chemical and petrochemical products that Muntajat will purchase, market, distribute and sell to customers in more than 120 countries worldwide, as mandated by Emiri Decree No. 11/2012.

H.E. Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy & Industry and Chairman of the Board of Directors of Muntajat, said: "The creation of Muntajat is a landmark achievement that signals the emergence of Qatar's chemicals and petrochemicals industry on the world stage. By consolidating the distribution and marketing channels of these products, it will play an increasingly important role in supporting the progress of both the global chemical and petrochemical industry, as well as Qatar's national economy."

Customers can expect a seamless transition to Muntajat of the current marketing, sales, and associated operations activities of QAFAC, ensuring continuous supply to its existing customers. As part of its strategic migration plan, Muntajat has informed all of QAFAC's current customers about the transition of service arrangements and is carrying out direct customer visits to reassure and strengthen the commercial relationships.

Muntajat's CEO Mr. Abdulrahman Ali Al-Abdulla commented: "The 1st of February marks two critical commercial milestones for Muntajat -- completion of the QAFAC transition as well as taking our first client order. We are advancing to plan towards the target of full transition from all of Qatar's producing entities by mid-2013."

QAFAC is the first of the nine producing entities for which Muntajat has the mandate to exclusively market, sell and distribute regulated products produced in the State of Qatar.

"Founding Muntajat is considered a significant step taken by the State of Qatar since it aims at gathering all the marketing expertise in one company rather than having it scattered in different companies. Having Muntajat marketing our products will enable us to focus on optimising our operations," said Mr. Nasser Jeham Al Kuwari, Board Member and General Manager of QAFAC. "The end result of the transition will be positive for both companies and customers."