Mubasher: Qatar Industrial Manufacturing (QIMC) on Thursday has signed a memorandum of understanding (MoU) with US-based Stewart Engineerings to set up float glass facility in the GCC nation with QAR 700 million in investments.
The MoU aims at meeting Qatar's needs from float glass panels, which are used in a slew of industries including building, cars and solar panels, the Qatar-listed firm said.
The production capacity of the new glass factory, the first of its kind in the Persian Gulf nation, will reach 600 tonnes per day, the economy and commerce ministry said, giving no further details on its establishment timeframe.
Signing the MoU came on the sidelines of Qatar-US economic forum, which kicked off on Wednesday, 18 April in Charleston, South Carolina.
By 11:30 am Qatar time, QIMC’s stock grew 0.51% at QAR 39.20.
