Complex Made Simple

Industries Qatar gains as subsidiary partners with Russia’s NIIK

In Doha the Qatar Exchange Index advanced 0.58 per cent to hit 13,544.04 points on Sunday, October 26. Market bellwether Industries Qatar finished one per cent higher at SAR193.30. Earlier in the day, Qatar Fertilizer Company or QAFCO in which Industries Qatar has a 75 per cent stake and NIIK (a Russian engineering and technology company specialized in urea) signed a contract for design and supply of a pilot High Speed Drum Granulation unit (HSDG) to produce various value added urea products in Qatar. “Construction activities in the pilot plant are expected to start middle of next year and the plant is expected to start production by end of next year,” said QFCO in a filing to the market.

Gérard Al-Fil