Jul 02nd, 2012
ParexGroup expands production capacity in Qatar
ParexGroup opened a new plant in Doha, Qatar. This new plant broadens the company’s footprint in the country, following the construction of a first plant in 2007 in Dubai. And ParexGroup is steadily making a name for itself in Qatar, where it has completed high-profile projects like the billion-euro Qatar Petroleum Financial District.
The new plant, which offers annual production capacity of 20,000 tons, is initially focused on a limited range of products like grey plasters and tile adhesives. ParexGroup’s Dubai plant will continue to make engineered mortars and sealants.
This latest project will position ParexGroup to take full advantage of the opportunities created by the Qatari government’s economic expansion and diversification initiatives. Qatar’s fast-growing economy (6.3% GDP growth in 2012 and 5.2% expected in 2013) is heavily dependent on the oil and gas industry. Today, the country is gearing up to support other industries by building and upgrading its transportation infrastructure. The 2022 FIFA World Cup in Dubai is also driving new construction projects.
Qatar is a fast-growing economy and market competition is fierce. The quality of our products, our extremely agile and responsive employees, and our stellar service quality will position us to take full advantage of the business opportunities Qatar has to offer.”