Mesaieed Petrochemical Holding Company Restructures Partnership for Cutting-Edge Salt Production Facility in Qatar

Mesaieed Petrochemical Holding Company (“MPHC” or “the Group”; QE ticker: MPHC) is pleased to announce a significant update following our previous announcement on 23rd September 2024. The parties has reached a mutual agreement for the exit of the Turkish partner “Atlas” from the Memorandum of Understanding (“MoU”) concerning the development and operation of a state-of-the-art salt production facility.

The innovative salt production facility will now be established through a new joint venture ownership structure:

· Mesaieed Petrochemical Holding Company (MPHC): 60% equity stake

· Qatar Industrial Manufacturing Co. (QIMC): 40% equity stake

This restructuring marks a pivotal step in advancing the project, ensuring streamlined operations and enhanced collaboration between the remaining partners. The facility aims to leverage cutting-edge technology to meet growing demand and contribute to Qatar’s industrial diversification efforts. QAPCO remains the project development manager, providing all project-related support.

Further details regarding the project will be disclosed in due course, upon reaching the (FID) stage.