Evonik Explores Qatar as Investment Target

Essen, Germany-Based Specialty Chemicals Group Considers Production Plant in the Umm Alhoul Free Trade Zone

17.05.2024 - At the sidelines of the Qatar Economic Forum, Qatar Free Zones Authority (QFZ) and Evonik have signed a Memorandum of Understanding (MoU) to explore specific investment opportunities focused on sustainable solutions for energy transition.

Specifically, the project involves the construction of a production plant in the free zones of the state of Qatar. The portfolio of the Essen-based specialty chemicals company consists of a large number of innovative products, including membranes for gas separation. The future plant could be built in the Umm Alhoul free zone and will serve the oil and gas and industrial processes sectors in the GCC and the Middle East, a market traditionally supplied from the USA and Europe, Evonik said.

The collaboration between Evonik and QFZ aims to contribute to the continuous development of Qatar's industrial capabilities through the integration of sustainable technologies. Evonik's presence in Qatar's free zones will also promote broader collaboration between Evonik and QFZ on innovative and sustainable solutions in specialty chemicals and advance the emirate's agenda for economic diversification and long-term resilience in line with the goals of Qatar's Third National Development Strategy 2024-2030.