MEA October 2017

MEAMARKETS / October 2017 21 “Petrofac Qatar had introduced stringent pre-qualification and vendor approval procedures in order to ensure the reliability of our principals and their products. Similarly, we have been promoting the concept of long term call-off contracts with our customer for their regularly purchased items, which will not only ensure immediate availability, but also maintain the price and optimize their resources effectively.” Ultimately, Rony describes what, in his opinion, are the key advantages to being based in Qatar. He comments on the forecast for Qatar by the International Monetary Fund (IMF), which will ultimately see its population grow in 2017. He signs off by predicting what the future holds for the company, along with what upcoming plans and projects Petrofac Qatar have going forward. “Moving forward, the IMF forecasted that Qatar will have the highest real growth in the region over the next four years. Its population is expected to grow by 7% in 2017 due to a large influx in expatriates. Qatar plans to invest up to US$220 billion in infrastructure over the next seven years. This is in support of the Football World Cup in 2022 and its National Vision 2030. It is one of the most ambitious infrastructure programs in the world. Qatar is very much a market where local knowledge is the key. Being a well-established business based in Qatar for the past two decades, with strong market knowledge and relationship, we believe it is a major advantage for us. “Qatar has very ambitious plans for the next 10 years as part of the Qatar National Vision 2030, mainly for the infrastructure development. Qatar has recently announced their plans to expand the LNG products by 30% to maintain their leadership position in the world. Also, we are optimistic that this holds a good opportunity for our company to grow in the coming years. “Looking ahead, we plan to set up 20,000 Square Meters state-of-the-art warehousing and machine shop facility in 2018. This facility will serve as the authorized service center for some of the major manufacturers and reputed brands within the industry, to provide after sales repair & maintenance services to our valued customers.” Company: Petrofac Qatar W.L.L. Contact: Rony Paul Thekkanath Contact Email: [email protected] Address: Petrofac Qatar Building, C-Ring Road, P.O. Box 4404, Doha – Qatar Tel: +974 44478800 Fax: +974 44478811 Email: [email protected] Web: Powered by Passion g