QATAR - Industry
Vice-Chairman & Managing Director, Qatar Intermediate Industries (Alwaseeta)
Ali Hassan Al-Sidiky has over 30 years of experience in the oil, gas, petrochemical, and power industry, having joined Qatar General Petroleum Corporation in 1979 as a Well-Site Engineer. He rose through the ranks to the positions of Senior Product Engineer, Head of Production in Engineering Technology, and Assistant Manager of the Petroleum Engineering Department, before becoming Director of Downstream Venture at Qatar Petroleum. He is also the Vice-Chairman and Managing Director of the Board of Directors at Alwaseeta and the Chairman of the Board of Directors of GAZAL. Al-Sidiky graduated from the University of Oklahoma in 1979 with a Bachelor’s degree in Petroleum Engineering.
The rebranding was a strategic decision that we adopted to give further momentum to the company in order to establish ourselves more prominently, and reinforce our objectives and strategy. Qatar Holding was too generic a name, and we felt it did not reflect our business or the company vision. Alwaseeta is an Arabic name meaning “intermediate,” which is relevant given that our business is with intermediate industries. We want to recreate the company’s vision at a higher level, fully in step with the National Vision, and our new strategy received the approval of the Supreme Council for Economics and Investment.
Hydrocarbons are experiencing huge growth, especially in the downstream segment. Petrochemical derivatives are also a major business line, though everything depends on the economic viability of a project. In moving from primary to secondary industry, we have two or three sectors, such as the chemical clusters, and from those chemical clusters we develop other projects, and we can build on them further downstream meaning that the opportunities are unlimited in terms of moving even further downstream. We are working on expanding these operations, and are striving to fulfill our duties for the Qatar National Vision 2030. Qatar is also producing aluminum with Qatalum, and we plan to develop downstream opportunities in this industry through enhanced technological processes, such as rolling mills and extrusion.
One of our mandates as a company is to seek investment through mergers and acquisitions (M&As). We are interested in companies that can bring technology that serves our vision, strategies, or projects. Additionally, we are exploring M&A opportunities with companies that can bring added value to us overseas and also enhance and consolidate our business in the domestic market. For example, if we develop a joint venture here in Qatar with a foreign partner, we will try to align with that company’s other businesses. By acquiring shares and investing in their ventures abroad, we can consolidate and develop synergies in both marketing and product development.
In our business plan, we have over 10 projects in the five-year cycle plan at different stages of development. Beyond our five-year cycle, we have over 30 diversified hydrocarbon and non-hydrocarbon projects. We assess the market and consider the value of a project, but have no preference for either hydrocarbon or non-hydrocarbon based projects, as each serves its own purpose. We wish to become a leading manufacturer and distributor of intermediate petrochemical and non-hydrocarbon products in the region.
We have been part of that vision from the outset. QP was already present, and so we built a platform on it. We contribute by boosting the economy and supporting the development of Qatar’s human resources—all of this is part of the National Vision 2030. We are dedicated to developing Qatar’s human resources by refining their skills and education and empowering individuals to reach their full potential. Regarding sustainability, we aim to create products that are environmentally friendly. We will be looking into the country’s waste management strategy as part of this in full cooperation with the Ministry of Environment. We are also bringing energy conservation technology to Qatar. We work in very close cooperation with Kahramaa in its program of conserving energy consumption within the country.
© The Business Year – September 2014
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