(MENAFN- The Peninsula) By Mohammad Shoeb / The Peninsula
One of the top Turkish companies which visited Doha recently to explore business and investment opportunities in the thriving economy, has signed a business deal worth QR290m ($80m) with Qatar General Electricity and Water Corporation (Kahramaa) to supply electromechanical items and other goods and equipment, said a senior official who is aware about the development.
A Kartal Usluel (pictured), Chairman of EMSAD, the Ankara-based Electromechanical Industrialist Association, who was here with the visiting Turkish trade delegation, said that Turkish companies see great business and investment opportunities in Qatar. And Turkish goods, especially electromechanical goods are expected to enter the Qatari market in a big way within months.
'Turkish products are of high standard. They are competing globally with leading brands both in terms of quality and price. I am confident that they will be doing great in Qatar with the cooperation of local partners, Usluel told The Peninsula.
Usluel, who was heading the delegation of the nine leading Turkish electromechanical firms, added: 'When we visited Kahramaa, Qatar Rail, Qatar Petroleum (QP) Manateq (Economic Zones Company, Qatar) and several other projects being implemented in Lusail City, we saw massive opportunities arising from early next year.
The recently concluded Turkish trade mission, which was organised in close cooperation with Qatar's Ministry of Economy and Commerce, were consisting of top electric companies, who have already applied for registration with Kahramaa, and others organisations.
'We expect Turkish products entering the Qatari market in a very short while… There are a lot of EPC (Engineering, Procurement, and Construction) contracts coming up in Kahramaa, QP and other leading companies, Usluel added. 'Already very strong Turkish civil contractors are working in Qatar. And I am very happy and proud to share that we heard a lot of positive feedback about their performance in the Qatari market from authorities concerned. One of our companies have already signed a $80m supply deal with Kahramaa. And there are many others who are supplying indirectly to electricity grids as manufacturers not as EPC contractors.
He said that Turkish companies are also targeting to apply for EPC contracts, which will lead to further increase in the supply of Turkish goods, including contraction materials and other items.
Asked about product range and the supply capacity, he said: 'Turkish companies manufacture a wide range of products—from small switches to biggest possible equipment used in transmission lines. We have enough installed capacity to fulfill any demand. Our companies exports goods worth billions of dollars across the world.
On possibility of setting up manufacturing facilities in Qatar, he replied in affirmative, saying that there are companies which intend to manufacture some items in Qatar eventually for the local as well as overseas markets. But it's a gradual process.
'Qatar is one of the very few most attractive destinations for business and investments in the world. But there is a process involved for our niche industry. First installation of products, then studying the market demand and economic feasibility. In fact a lot of EMSAD member companies have factories in Sudan, Algeria and other parts of the world, who would like to invest in Qatar as well.
About Qatar's smart power grid system, he said that a lot of Turkish companies, including one of his own firms, are already manufacturing products that find use in smart grid and smart metering system. 'We don't have any problem in this regard as Turkey is also witnessing similar transformation in its power sector, he said.
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