The controversy over Qatar’s selection as host for the Fifa World Cup has not deterred the Gulf state from its preparations for the event. While it is reported that some contractors have spoken of cancelled or delayed projects, none of these have anything to do with the major ones of the soccer extravaganza.
Qatar’s leading logistics provider Gulf Warehousing Company (GWC) has reported a 30 per cent increase in net profit during the first half of the current year, compared with the same period last year. The company made QR87.7 million ($24.08 million) in net profit, compared with QR67.6 million by the end of June 2014, said a GWC statement.
ABB, the leading power and automation technology group, has won an order worth around $85 million to provide turnkey substations to help integrate electricity from a new independent water and power plant (IWPP) into the country’s grid.
The Fifa World Cup is providing the biggest boost for Qatar’s air-conditioner market, which is projected to grow at a CAGR of 13.42 per cent during 2015-2, a report says.
Ashghal and Qatar Primary Materials Company (QPMC) have signed a strategic framework agreement for the import of raw materials. This agreement contributes to Ashgal’s ongoing efforts to ensure the availability of construction materials for planned infrastructure development projects for the future.