Qatar currently has one of the world’s largest reserves of natural gas and it accounts for approximately 50% of their gross domestic product each year. Now however they plan to invest heavily in petrochemicals and other industries in an attempt to kick start the diversification into other industries in the region.
Qatar Aluminium Company or Qatalum as it is more usually known is a joint venture between Norsk Hydro and the state run Qatar Petroleum and they began production at their Aluminium plant late last year. They are now planning to start shipping their products to North America and Europe over the next three months. This is a diversification from its present markets which to date have primarily been Asia and the Middle East.
This smelter currently has an annual output capacity of 585,000 tonnes and this produces approximately 300 tonnes of Aluminium a day and it is estimated that Qatalum will be reaching its full output capacity by the end of this year.
It is currently estimated that Aluminium supply to China is going to grow by at least 12% per year for the next ten years and that demand to the Arabian Gulf will also increase by approximately 5% by the end of 2010.Andrew Reid, Staff Writer, Gulf Jobs Market News