Qatar Intermediate Industries Holding Company, a subsidiary of Qatar Petroleum (QP), has announced the launch of its new corporate identity "Alwaseeta" in line with the 'Qatar National Vision 2030.'

The new name, "Alwaseeta", reaffirms the core positioning of the company and highlights its strategic role and contribution to the development of Qatar, said Dr Mohammed Bin Saleh Al Sada, the Minister of Energy and Industry and the chairman of the board while speaking at the rebranding ceremony.

“The change of the company’s name coincides with a reinvigorating drive towards Alwaseeta’s vision of creating partnerships and investment opportunities for the downstream intermediate industrial ventures," stated Dr Al Sada.

"In line with the Qatar National Vision 2030 and within the national context of diversification of the economy, “Alwaseeta” is committed to maximizing the value of Qatar’s natural resources by creating value added downstream intermediate industrial ventures," he added.

Ali Hassan Al-Sidiky, the company vice chairman and managing director said Alwaseeta will be responsible for developing new and viable intermediate industrial projects that can utilize the latest technologies.

Alwaseeta will aim to become a leading manufacturer and producer of a variety of intermediate hydrocarbon and non-hydrocarbon  products, he observed.

"We are committed to nurture and encourage innovative sustainable projects by establishing local and international partnerships that will support the expansion of Qatar’s industrial base and diversification of the national economy," added Al Sidiky.-TradeArabia News Service