Mubasher: Qatar’s Aamal Company (Aamal) on Monday announced that it is on the verge of launching three industrial major projects through its Senyar Industries Qatar Holding, according to Aamal’s statement on its website.
Aamal has a 50% stake in Senyar Industries Qatar Holding W.L.L., which is one of Qatar’s leading industrial groups.
The new projects, which are the first of their kind in Doha, will be funded by a combination of equity and debt, the statement said.
The first project is “Senyar Copper Production Factory” with a capital of QAR 95 million. This factory will produce copper wires to be the first plant in Doha working in this field.
The facility is expected to be completed by the end of 2019.
The second is “Senyar Aluminum Production Factory” with a capital of QAR 10 million to produce aluminum bars.
The second factory’s construction will be finished by the end of 2019, the statement showed.
The third project is “Senyar Drum Production Factory” with QAR 10 million in investments.
The facility, that will produce wooden and steel cable drums, is expected to be operational by the end of 2018, the statement added.
“These significant new projects which Senyar Industries Qatar Holding is launching are very much in line with Qatar’s vision of industrial diversification and of ensuring that industry is a key source of income for the economy, as well as fulfilling the country’s relentless drive towards achieving self-sufficiency,” said Aamal chairman Faisal Bin Qassim Al Thani.
