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  Economics
Qatar to invest USD 17 bln in industrial firms in 3 years
19/02/2013   |   11:35 PM | Gulf News
تصغير الخطالشكل الأساسيتكبير الخط
DOHA, Feb 19 (KUNA) -- Qatar plans to invest 50 billion Qatari riyals (USD 17 billion) in industrial companies in the next three years, Qatar Investment Authority Board Member Hussein Al-Abdullah said here Tuesday.
"The State of Qatar will invest over USD 17 billion until 2017 in the industrial sector (downstream)," Al-Abdullah said in news remarks.
But, he noted, this figure does not include investments in oil and gas, saying that investments in the petrochemical industry would raise the country's petrochemical output up to 19 million tons per annum by 2019 from 12-13 million tons annually at present.
Meanwhile, he remarked Qatar Holding, owned by Qatar Investment Authority, posted a 17.4 percent rise in net profits in 2012.
The company has doubled the profits of its department store Harrods to 108 pounds in 2012 from 54 million pounds before it bought the famous London department store. (end) ma.mt KUNA 192335 Feb 13NNNN
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