Minister: Qatar to Attract $15bn Foreign Investment in New Industrial Projects
Qatar will attract foreign investment to the tune of $15 billion in new industrial projects shortly, said Minister of Energy and Industry Abdullah bin Hamad Al Attiyah.
The minister said $1.7 billion would be invested in RasGas Train 3 and $700 million in the Qafco expansion project scheduled to begin in October, according to the Gulf Times newspaper.
A refinery with a capacity to handle 140,000 barrels of crude a day is also being set up in Ras Laffan.
On the mode of financing, the minister said the projects were self-guaranteed.
“Qatar is the first country in the Middle East to introduce the system of finance through project guarantee. We have, by the grace of God, been able to repay most of the loans and the remaining is in the process of being repaid,” he said – Albawaba.com
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