(MENAFN) Qatar has established a new company to market and distribute petrochemicals, under Emiri decree, Arabian Business reported.
The move is part of a USD25 billion investment in the industry up to 2020 as part of its strategy of diversifying its economy.
The launch of Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat) was revealed by Dr Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry and chairman of Muntajat.
Muntajat is aimed to be a single corporation which holds exclusive rights to purchase, market, distribute and sell Qatar's production of chemical and petrochemical regulated products to the global market.
Qatar produces 10 million tones yearly of chemicals, polymers and fertilizers.
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