The Qatar Ministry of Commerce and Industry (MoCI) and QatarEnergy have signed the Terms of Reference (ToR) to establish a governance mechanism for allocating hydrocarbon-derived resources to industrial investment opportunities.
The agreement also supports the development of a new medium industries area in Mesaieed Industrial City (MIC).
It sets out a framework for cooperation on the evaluation and allocation of hydrocarbon-derived resources, natural gas, electricity, and other related natural resources for downstream industrial investment projects, supporting the efficient use of national resources and value-added industrial development.
The agreement was signed by Saleh Majid Al Khulaifi, Assistant Undersecretary for Industrial Affairs and Business Development at the MOCI, and Ahmad Saeed Al Amoodi, Executive Vice President for Surface Development and Sustainability at QatarEnergy.
The signing ceremony was held at QatarEnergy headquarters and was witnessed by Sheikh Faisal bin Thani bin Faisal Al-Thani, Minister of Commerce and Industry and Eng. Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs and President and Chief Executive Officer of QatarEnergy.
Sheikh Faisal bin Thani bin Faisal Al-Thani, Minister of Commerce and Industry said that the agreement supports the development of a governance framework for the allocation of national resources to value-added industrial investment opportunities.
The Ministry of Commerce and Industry will lead investor engagement, attract industrial investments, and coordinate the industrial ecosystem, while QatarEnergy will provide technical and commercial expertise related to resource allocation and utilization.
Al-Thani added that the agreement is part of the ministry’s efforts to strengthen the industrial investment environment, support economic diversification, and contribute to the objectives of Qatar National Vision 2030 and the Third National Development Strategy.
Image Credits: QNA | Cropped by GBN
HE Eng. Saad bin Sherida Al Kaabi emphasized that, “We are pleased to sign these Terms of Reference, which will support the Ministry of Commerce and Industry’s effort to develop an expansion in Mesaieed Industrial City to accommodate more medium industries. In this respect, QatarEnergy has pledged to supply this expansion with natural gas quantities equal to those dedicated to the small and medium industries in Doha’s industrial area.”
Under the agreement, MoCI and QatarEnergy will establish a joint working team to oversee the allocation of hydrocarbon-derived resources for qualifying industrial investment opportunities.
The team may seek support from other government entities and stakeholders, including the Qatar Ministry of Finance; Qatar General Electricity and Water Corporation (KAHRAMAA); Invest Qatar; the Qatar Free Zones Authority or other special economic zone representatives; the Ministry of Environment and Climate Change; Qatar Development Bank; and other relevant organizations, as required.
