(MENAFN - Kuwait News Agency (KUNA)) Qatari Minister of Energy and Industry Mohammad Al-Sada said here Monday his country has a future plan to increase its chemical and petrochemical production from 10 million tons now to 23 million tons by 2020.
Al-Sada, who is also Chairman of Qatar Chemical and Petrochemical Marketing and Distribution Company (MUNTAJAT), said in a press conference held to announce the launching of MUNTAJAT that the new company is part of Qatar's efforts to become an international chemical and petrochemical hub.
Qatar has boosted its presence as a major producer and source of chemicals, polymers and fertilizers and still seeks more mega chemical projects, he added.
"The country is investing around USD 25 billion in its petrochemical sector by 2020 as part of its economic diversification strategy and its mission to increase its global market share in the chemicals and petrochemicals industries," the Qatari minister said.
MUNTAJAT is a jumping-off for diversifying Qatar's export portfolio and carrying out Qatar s 2030 national vision by contributing to social, human, economic and environmental development.