Project Qatar ideal platform to forge ties with clients: Mansoori
AAMAL Company, one of the region’s largest and most diversified companies, is taking part in the ongoing Project Qatar 2023 with the participation of two of its companies.
Talking to Qatar Tribune about the significance of Aamal’s participation in this year’s Project Qatar, Aamal CEO Rashid bin Ali Al Mansoori said, “We are participating in Project Qatar for the fourth time as it is an important platform for us to showcase products and services provided by our group of companies. This year two of our group companies are taking part in the exhibition. Next year, we will bring more companies and will have a bigger exhibition area.”
“This event is very important for companies here in Qatar. It is a venue where we have B2B and sometimes B2C meetings which are very important to expand and promote our companies,” he said.
Praising the high standards of the exhibition, he said, “I think the people who are working with this event are doing a very good job. I think they could do even more for this event. Besides the exhibition, some kind of forum discussion, and discussions on topics of the future can be added.”
Asked about new products and services being displayed at the exhibition, he said, “This year we are participating with only two companies – Aamal Readymix and Aamal Cement Industries out of the 30 companies we have in our group as this event mainly focuses on the industrial segment. This year, we are mainly focusing on industrial and water-related products. From the next edition, we are planning to bring our factories, steel structure cables, automotive products, and even our pharmaceutical products.”
About the importance of Project Qatar as a platform to forge new ties, he said, “I think it’s the right venue to meet the right client. While it’s mainly B2B event, even the public can come and see different products to make a choice. Having a business-to-business event is very important. One cannot afford to miss this event. This is the reason why all major Qatari companies are taking part in this event.”
Abut the response so far from visitors at the exhibition, he said, “So far, we have received a very good response as we met some of our clients. We had many visitors on the first day and today as well. The exposure to the public, to the media, and to domestic companies are very important for us and that’s why next year we will have bigger, one of the largest stands.”
Aamal Company, one of the region’s largest and most diversified companies, is planning to expand further its exports, particularly to Asia, which it sees as an attractive potential market for its products.
On the domestic front, Mansoori said, “The company is focusing on industrial manufacturing, real estate, healthcare, and other high-growth sectors such as information technology.
Aamal, which already has allowed up to 100 percent foreign ownership limit, enjoys a strong financial position and a low gearing ratio of 2.04 percent with significant liquidity amounting to QR7.9 billion at the end of 2022.
“At present, we are doing fine and we are sufficiently capitalised as we look at better ways of financing the projects whenever the opportunities arise,” Mansoori said.
The fast-growing entity is considering geographic expansion by increasing exports from its existing factories in Qatar as well as keeping options open on establishing new factories in the region, according to him.
“In Aamal, we have the potential and opportunities to take our services outside Qatar, thanks to the experience we have built over many years,” he said in an
Highlighting that it is already exporting to the Middle East and Asia, he said “We are trying to increase our presence in the region, mainly in Asia, which is a potential market for our products.”
Aamal Company has plans to produce high-quality continuous cast copper rods in line with global standards through its Senyar Cast Copper Rod plant, creating opportunities in 2023 and beyond.