Qatar Shell, in partnership with Qatar Development Bank (QDB), has awarded long-term contracts worth QR15 million ($4.1 million) to six new local small and medium enterprises (SMEs), a report said.

Four contracts included deals to supply to Pearl GTL, the world’s largest gas-to-liquids plant delivered by Qatar Petroleum (QP) and Qatar Shell, while two SMEs were awarded contracts with Qatar Shell, reported Gulf Times.

“Local SMEs by acquiring contracts have the potential to elevate their future, while global companies and their customers get the services they need from a local supplier, which reduces supply chain risk and provides quality assurance,” Abdulaziz bin Nasser al-Khalifa, chief executive of QDB was quoted as saying.

According to eligibility criteria set by QDB and Qatar Shell, the SMEs must be at least 51 per cent Qatari-owned, with headquarters in Qatar, and have an annual turnover of less than QR100 million.