MPHC restructures partnership for salt production facility in Qatar
Doha
Mesaieed Petrochemical Holding Company (MPHC) has announced a major restructuring in the partnership framework for its upcoming state-of-the-art salt production facility in Qatar. This development comes as a follow-up to the company's earlier announcement made on September 23, 2024.
In a mutual agreement, the Turkish partner Atlas has exited the Memorandum of Understanding (MoU) that was initially signed for the development and operation of the facility. With this exit, the project will now move forward under a revised joint venture ownership structure comprising MPHC and Qatar Industrial Manufacturing Company (QIMC). Under the new arrangement, MPHC will hold a 60 percent equity stake while QIMC will own the remaining 40 percent.
The restructuring represents a significant milestone in the project's progression, paving the way for more streamlined operations and stronger collaboration between the two Qatari entities. The planned facility is set to incorporate advanced salt production technologies, with the objective of meeting rising demand in the region and contributing to Qatar's ongoing efforts toward industrial diversification.
QAPCO will continue to serve as the project development manager, providing all necessary support throughout the various phases of the project. MPHC has stated that further updates will be provided in due course, particularly as the project approaches the Final Investment Decision (FID) stage.
Once completed, the cutting-edge salt production facility is expected to play a pivotal role in supporting key industrial sectors in Qatar and boosting the nation's manufacturing capabilities.
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