British banking group HSBC is seeking to participate in the financing of major petrochemical projects in the state of Qatar, stated HSBC Holdings Chairman John Bond at a Doha press conference last week. He added that Qatar’s Minister of Energy and Industry Abdullah Bin Hamad Al-Attiyah brought up the idea, reported the local Gulf Times.
HSBC also plans to launch an Internet banking service in Qatar by yearend 2002 and open the bank’s fourth local branch in Rayyan. Qatar is placed on top of HSBC’s priority list, stated Bond.
Established in 1954, HSBC Qatar is the largest foreign bank operating in the Gulf state, with a five percent market share. The bank’s financing projects so far include the independent water and power project at Ras Laffan, Ras Abu Fontas-B, energy projects at Ras Laffan and Mesaieed, the Al-Ahli Hospital and the Ritz Carlton. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
