Four firms set up Q Industry

Abu Dhabi: Four companies from Abu Dhabi, Dubai, and Qatar have joined forces to establish Q Industry, an industrial investment company with an initial capital investment of Dh500 million.

Q Industry will focus on industrial investments in the UAE and Qatar, especially for the development of factories that produce a range of products, including pharmaceuticals, plastics, metals as well as food and beverages.

Al Qudra Holding is acquiring a 45 per cent share in the new company, while Qatar Industrial Manufacturing (QIM), Dubai Investments (DI), and Emirates Holding (EH), will hold 25, 20, and 10 per cent respectively.

"Today we have signed a memorandum of understanding to establish Q Industry, which will be a private holding company," said Engineer Salah Bin Omeir Al Shamsi, chairman and managing director of Al Qudra Holding.

He said the reason for setting up a private company is that public companies require a faster turnover than what industrial investments can offer, as these tend to yield profits over a much longer term.

Q Industry's main focus will be processing or downstream industries, as it seeks to capitalise on the potential of both countries, especially aluminium in the UAE and natural gas in Qatar.

"There are many opportunities available, and the processing of aluminium in its liquid form seems to be one of them," Al Shamsi said.

Meanwhile, Qatar, represented by QIM, is seeking to benefit from the bigger combined market to get a better return, and will offer many investment opportunities for Q Industry, according to Shaikh Abdul Rahman Bin Mohammad Jabor Al Thani, chairman and managing director of QIM.

The different parties are working on the details of incorporation, structure, and investment opportunities for the new company, and the launch will take place after three months.