Businessmen from Qatar and Oman are expected to launch three projects in various fields to boost the manufacturing sectors of both countries, a company official from Oman said yesterday.
Speaking at a business meeting with Qatar Chamber officials, Zubair Corporation CEO C S Badrinath said the company has three projects “based on partnerships between Qatari and Omani businessmen, which are expected to be launched soon.”
“The first project involves water production and distribution under the brand ‘Oasis Qatar’; production will be within two months. The second is a factory for electrical transformers, while the third is a factory for petrochemicals,” said Badrinath, who was part of a trade delegation from Oman that met with Qatar Chamber vice chairman Mohamed bin Twar and board member Mohamed bin Ahmed al-Obaidli.
Badrinath said Zubair Corporation was established in 1967 in Oman and entered the Qatari market 45 years ago. The company specialises in contracting, electricity stations, real estate, furnishing, and tourism, he added.
Al-Kuwari said the meeting with the Omani delegation, which included Zubair Corporation chief of corporate communication Mohamed bin Mubarak al-Hassan, revolved around investment opportunities and enterprises in Qatar.
He said Qatar Chamber supports joint cooperation and the enhancement of trade and economic ties between both parties. He also assured the chamber’s readiness to provide the delegation with information and data about the Qatari market.
According to bin Twar, trade volume between Qatar and Oman stood at QR3bn last year. He said Qatari investments in Oman amounted to 76.5mn Omani riyals (QR727mn) in 2015, and that there are 148 Qatari companies are operating in Oman.
Last month, Qatar Chamber led a Qatari delegation comprising 140 businessmen to explore investment opportunities in Oman, including foodstuffs and building materials.
Bin Twar said the business trip “opened opportunities for Omani companies to increase business activities in Qatar.”
“Companies in Oman have considerable expertise in food security, petrochemicals, and industry. Qatar and Oman chambers have signed a cooperation agreement, which helped pave the way for enhancing partnerships between both countries’ private sector.
“Qatar Chamber receives businessmen and companies representatives from Oman on a daily basis. The visits contributed to bridging cooperation ties between both countries’ business sectors,” he said.