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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)
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KUNA 192335 Feb 13NNNN
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