IQ plans QR3.2bn capex for fertilizers segment in 5 years

Industries Qatar (IQ), one of the region’s industrial giants with holdings in petrochemicals, fertilizer and steel producers, plans to invest around QR3.2bn as capital expenditure (capex) in various projects in its fertilizers segment over the next five years.

The group had invested around QR135m in form of capital expenditures for this segment during 2020. “In terms of capital expenditure for the future, the segment is expected to invest QR3.2bn in various projects over the next five years. The main projects the segment will invest during the next five years will include projects related to HSE, plant reliability, regulatory compliance, infrastructure, productivity, periodic maintenance turnarounds and other PPE additions,” said IQ in its latest annual report.