Monday, February 11, 2013

State plans two mega firms for investment

DOHA: With more than $150bn expected to be spent on infrastructure development in the country over the next 10 years, the government is all set to launch a publicly-traded mega infrastructure investment company to ensure that Qatari people and businesses are directly involved in the development process and benefit from it financially as well.

Another similar initiative is being launched whereby citizens and private companies will become direct stakeholders in the wealth that gas-rich Qatar regularly invests abroad for strategic long-term gains.

The state yesterday announced the above two initiatives, namely, Infrastructure Investment Company and Doha Global Investment Company, and said the two mega companies will be listed on Qatar Exchange.

Although no further details were given, businessmen and analysts believe the capital of the two mega entities would be in billions of riyals and at least 30 percent of the shares could be open for subscription to the Qatari people and businesses via initial public offerings (IPOs).

Read more: http://thepeninsulaqatar.com/qatar/225195-state-plans-two-mega-firms-for-investment.html

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