A public shareholding company to be called Gulf Cement Company with a paid up capital of QR800m is being established, said Abdullah bin Nasser Al Misnad, Chairman of the company’s founding committee. Abdullah bin Nasser said that in order to maximise returns for a large part of the Qatari society and to benefit small investors, 80 per cent of the company’s shares will be allocated for public subscription.
Abdullah bin Nasser said: “There has been robust development of projects related to the infrastructure, including roads, bridges, tunnels and the construction sector in general in the country has witnessed rapid growth, which has driven us to respond to the market requirements by establishing a company working in the field of cement, thus contributing positively to the country’s economy”. He said the company would set up a factory to produce clinker with a production capacity of approximately 5000tpd in the first phase to be eventually increased in subsequent phases of the project.
