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382682
Tue, 10/06/2015 - 13:03
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Qatar Primary Materials Company Signs Shipping Contract with Hyundai Glovis

Doha, October 06 (QNA) - Qatar Primary Material Company (QPMC) has clinched a $500 million deal with Hyundai Glovis Co., the logistics unit of South Korean auto giant Hyundai Motor Group, to ship construction materials. The deal calls for Hyundai Glovis to ship 50 million tons of aggregates from the United Arab Emirates and Oman to a pier located in the southern part of Qatar, the company said. The shipping contract will be effective from January next year to December 2020. The signing ceremonies took place in the Hyundai Glovis headquarters in Seoul in the presence of CEO of Qatar Primary Materials Company Eng. Issa Al Hammadi and the CEO of Hyundai Clovis Kim Kyoung. According to the statement, 10 million tons will be shipped each year. The total number of flights will reach up to 806 flights during the five years, which is equivalent to 161 flights per year. The vessel will carry 75 thousand metric tons per trip. All quantity will be allocated for the benefit of QPMC and the Public Works Authority (Ashghal). The agreement aims to provide 92 million tons of limestone and gabbro in favor of "Ashghal", for the completion of its development programs and projects through construction companies. Commenting on the agreement, Eng. Issa Al Hammadi said that the agreement completes a series of successes of the company, in the provision of strategic stocks of raw materials in the Qatari market, thereby contributing to the achievement of the vision for the achievement of stability in the building materials in the Qatari market, and thus contributes to supporting the infrastructure projects in Qatar. He noted that QPMC is the main supplier of raw materials for all infrastructure projects in the country, pointing out that the company's vision includes providing greater transparency and reliability for its dealings with suppliers and customers. He highlighted the company's great role in supporting projects of both the public and private sectors. Qatar Primary Materials Co (QPMC) was established in 2006 to provide efficient Port Service at the Gabbro berths and develop it for managing larger volumes of materials import to facilitate the importers. It has the capability to Design, Develop and Operate project jetties at developers request for Government projects. (QNA)

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