Dubai: A trio of state-controlled Qatari entities are setting up a new shareholding company that will look to invest some of the gas-rich country’s financial firepower in overseas energy infrastructure, a statement on the Doha bourse said on Monday.
Qatar Electricity and Water Company, a majority state-owned utility, said it will sign a partnership agreement with Qatar Petroleum International and the country’s sovereign fund Qatar Holding to set up a new shareholding company to invest outside its domestic market.
It is seeking investments “in the fields of power generation, water desalination and treatment, heating and cooling systems, provision of fuel as well as fuel loading and unloading equipment,” according to the statement.
Deep-pocketed Qatar has been actively acquiring assets across the globe in recent years in various industries such as banking, retail and automobiles.
Earlier this year it announced a $12 billion initial public offering of a government-linked investment fund that would give Qatari citizens the chance to benefit from the state’s overseas investment spree.
