Amwal, the leading investment banking and asset management firm in Qatar, has closed Qatar Chlorine’s debt financing with a leading Qatari Bank.

Amwal is now starting to raise equity for approx. 30 per cent of the total cost of the project. Strong returns on investment of up to 25 per cent are expected for the potential equity investors.

Qatar Chlorine, a private shareholding company, will set up a state-of-the-art Hydrochloric Acid plant in Mesaieed Industrial City.  HCL is an important chemical used in the Oil and Gas industry for “acidizing” wells to improve the flow rate and thereby production capacity. 

Qatar is currently relying heavily on imports to fulfill the growing need for this product.  Qatar Chlorine will thus be a unique industrial project with no local competition.

The opportunity to produce hydrochloric acid and its byproducts in Qatar will also bring a significant environmental benefit to the country as the increasing risks associated with hydrochloric acid transportation by ships and by road have created an urgent need to secure uninterrupted supplies of acid that are less reliant on external chemical suppliers.

Qatar Chlorine will add another milestone to Qatar achievements to rely on its own produced products for its consumption. Not only avoiding environmental import risk but will improve the countries import costs.

“Qatar Chlorine is an illustrious project in the medium-size hydrocarbon industry further boosting the role of the private sector. It is a promising step which enhances the industrial activity in the country and will attract foreign investment. Qatar Chlorine is poised to promote the private sector’s economic participation and to reduce reliance on imports,” said Qatar Chlorine’s main sponsor, Shaikh Mohamed bin Ahmed Al Thani. – TradeArabia News Service