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07/14/2007 | General Manager's Message
We welcome you all in the name of GCC and we thank you for participation in this meeting in this very important occasion for GCC, when we are going to disclose the financial statement for six month period ended June 30, 2007, and are pleased to confirm the commitment of GCC to Build Qatar from the perspective of the very ambitious vision for the construction boom in Qatar. In fact, this takes place at a time when the economy of Qatar is characterized by strength & availability of different many advantages which lead to Qatar be classified as the second Arab state in terms of economic competitiveness. Qatar is considered as the hottest construction spot in the region with a total cost of over USD 35bn in the next 5 years. This big surge in construction activity in Qatar is demanding on a greater volume of building materials, including cement. Available studies have estimated the demand for cement in Qatar to be over 20,000 tons of cement daily, which means that the incremental capacity may reach over 60% compared to the demand in the market today. Accordingly, GCC factory comes at an important junction in the construction industry boom.
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