08 May 2008

-QIMC and partners establish fibreglass pipe plant

QATAR. Qatar Industrial Manufacturing Company (QIMC), along with two partners, is establishing the Amiantit Qatar Pipes Company.

QIMC will have 40% stake in the new company, whose other shareholders are Saudi Arabia’s Amiantit Company (40%) and Qatari Company for Trading and Agency (20%), said a QIMC spokesman in a communiqué to the Doha Securities Market.

The communiqué was silent on the total capital base of the company, which will manufacture fibreglass pipes and fittings of 350mm to 400mm diameter that comply with the ISO standards.

QIMC yesterday gained 0.67% to QAR45 on a volume of 45,920 shares from 40 transactions.

Established in 1968, the company Saudi Arabia listed Amiantit manufactures pipe systems for water, sewage, gas, oil and infrastructure-related projects.

The QIMC announcement came close on the heels of another Qatar German Pipes Company (QGPC) being incorporated with an investment of QAR63 million to manufacture 50,000 tonnes annually of polymer pipes used for drainage.

Initially, QGPC will manufacture pipes with inner diameter of 600mm to 3000mm, which are expected to hit the market by the first quarter of 2009.

Another UAE-based Future Pipe Industries has already been working in Qatar and recently bagged a contract worth US$138 million from Qatar Petroleum to enlarge the seawater cooling facility at Ras Laffan Industrial City.

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Lebanon Time-Line

Introducing Lebanon

Coolly combining the ancient with the ultramodern, Lebanon is one of the most captivating countries in the Middle East. From the Phoenician findings of Tyre (Sour) and Roman Baalbek's tremendous temple to Beirut's BO18 and Bernard Khoury's modern movement, the span of Lebanon's history leaves many visitors spinning. Tripoli (Trablous) is considered to have the best souk in the country and is famous for its Mamluk architecture. It's well equipped with a taste of modernity as well; Jounieh, formerly a sleepy fishing village, is a town alive with nightclubs and glitz on summer weekends.

With all of the Middle East's best bits - warm and welcoming people, mind-blowing history and considerable culture, Lebanon is also the antithesis of many people's imaginings of the Middle East: mostly mountainous with skiing to boot, it's also laid-back, liberal and fun. While Beirut is fast becoming the region's party place, Lebanon is working hard to recapture its crown as the 'Paris of the Orient'.

The rejuvenation of the Beirut Central District is one of the largest, most ambitious urban redevelopment projects ever undertaken. Travellers will find the excitement surrounding this and other developments and designs palpable - and very infectious.

Finally, Lebanon's cuisine is considered the richest of the region. From hummus to hommard (lobster), you'll dine like a king. With legendary sights, hospitality, food and nightlife, what more could a traveller want?

Introducing Beirut

What Beirut is depends entirely on where you are. If you’re gazing at the beautifully reconstructed colonial relics and mosques of central Beirut’s Downtown, the city is a triumph of rejuvenation over disaster.

If you’re in the young, vibrant neighbourhoods of Gemmayzeh or Achrafiye, Beirut is about living for the moment: partying, eating and drinking as if there’s no tomorrow. If you’re standing in the shadow of buildings still peppered with bullet holes, or walking the Green Line with an elderly resident, it’s a city of bitter memories and a dark past. If you’re with Beirut’s Armenians, Beirut is about salvation; if you’re with its handful of Jews, it’s about hiding your true identity. Here you’ll find the freest gay scene in the Arab Middle East, yet homosexuality is still illegal. If you’re in one of Beirut’s southern refugee camps, Beirut is about sorrow and displacement; other southern districts are considered a base for paramilitary operations and south Beirut is home to infamous Hezbollah secretary general, Hassan Nasrallah. For some, it’s a city of fear; for others, freedom.

Throw in maniacal drivers, air pollution from old, smoking Mercedes taxis, world-class universities, bars to rival Soho and coffee thicker than mud, political demonstrations, and swimming pools awash with more silicone than Miami. Add people so friendly you’ll swear it can’t be true, a political situation existing on a knife-edge, internationally renowned museums and gallery openings that continue in the face of explosions, assassinations and power cuts, and you’ll find that you’ve never experienced a capital city quite so alive and kicking – despite its frequent volatility.