(MENAFN- The Peninsula) QNA
The President of Qatar General Electricity & Water Corporation (Kahramaa) Essa bin Hilal Al Kuwari said that Kahramaa offers investment opportunities, most of which target the domestic market at about QR19bn by 2022.
Al Kuwari said during a press statement on the sidelines of the opening of the third edition of the Forum 'Buy Local Products that Kahramaa needs until 2022 is estimated at QR7bn, which is a direct purchase, a priority for the local market, while direct contracting contracts during the same period about QR12bn, considering these figures represent a good opportunity for national companies to enter the sector.
He also noted that the strategic water reservoirs project has taken important steps and has been accelerated. It is expected that the first phase of the project will be opened during the first three months of 2018.
The project, which includes the construction of 24 reservoirs in five different locations, has been divided in some locations for more than one stage in order to benefit from the current capacity of these sites on storage, he added.
Al Kuwari noted that Kahramaa has succeeded in moving forward and implementing its projects according to its schedule with the highest standards of quality despite the siege, due to its adoption of the principle of economic innovation and finding suitable alternatives locally and globally through economic openness and opening new channels of cooperation with different countries of the world, to diversify sources.
He said that Kahramaa was keen to cooperate with Qatar Development Bank (QDB) to enhance the private sector's ability to enter the industries related to the electricity and water sectors and to enhance the competitiveness of small and medium enterprises, which is in the interest of the country for economic diversification, allowing the Corporation to obtain its equipment and supplies for electricity and water companies from local suppliers.
Al Kuwari stressed that the Forum is an opportunity for Qatari suppliers, manufacturers and businessmen to enter into industries related to the electricity and water sectors of cables, transformers and switches.
He also pointed out that Kahramaa's main objective is to get the products and equipment it needs from local manufacturers and suppliers and to encourage investors and entrepreneurs to enter this vital sector, and to emphasize its commitment to the directives of the State to give preference to the Qatari companies, as long as they meet the quality and efficiency standards adopted by Kahramaa.
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