Posted on September 21, 2014

Industries Qatar (IQ) issued a brief statement regarding changes by Qatar Petroleum to IQ's Board of Directors and executive management in line with its authority under IQ's Articles of Association. According to a press release IQ issued here today, with effect from September 17, 2014, HE Minister of Energy and Industry Dr. Mohammed bin Saleh Al Sada became a Board Chairman and HE Minister of Economy and Commerce Sheikh Ahmed bin Jassim Al-Thani was appointed as a Vice Chairman. 

The press release further said that the Board of Directors also includes HE Minister of Finance Ali Shareef Al Emadi, HE Dr. Ibrahim Al Ibrahim, Hamad Rashid Al Mohannadi and Nasser Khalil Al Jaidah as members, while Saad Sherida Al Kaabi as a member and Managing Director. Industries Qatar was incorporated as a Qatari joint stock company on April 19, 2003. It was formed with QP as its sole founding shareholder.

Qatar Airways DC

The business operations of the company comprise the direct holding of shares in the following subsidiary and joint ventures companies: 

- Qatar Petrochemical Company Limited Q.S.C. (QAPCO), a manufacturer of high quality ethylene and low density polyethylene, a joint venture and owned 80% by IQ. 

- Qatar Fertiliser Company S.A.Q. (QAFCO), a producer of ammonia and urea, a joint venture and owned 75% by IQ. 

- Qatar Steel Company Q.S.C. (QASCO), an integrated steel manufacturer is a fully owned subsidiary of IQ. 

- Qatar Fuel Additives Company Limited Q.S.C. (QAFAC), a methanol and methyltertiary-butyl-ether producer, a joint venture and is owned 50% by IQ.