Qatar’s plan to establish LED manufacturing facility on track
Posted on 24th August 2018
According to *Tradearabia news report, Qatar’s plan to establish a light emitting diode (LED) manufacturing facility in collaboration with a South Korean consortium remains on track, said a report, citing a top official at the South Korean embassy in Doha.
A South Korean consortium comprising some 11 small and medium companies specialising in LED technology are still in discussion with their local counterparts, including Qatar Development Bank (QDB), Jungsik Choi, first secretary, was quoted in a Gulf Times report.
The project, which was expected to be operational by the end of 2017, has faced a series of delays since details of the plan were announced in 2014, stated the report.
“Qatar Development Bank, which provides around 70 per cent of the investments, had asked the South Korean consortium to renew the manufacturing facility’s feasibility study. With a smaller GCC market now, there was a need to determine ways to secure a larger market volume,” said Choi.
“The project is still on track. In fact, the Qatari government had already identified a location site for the LED manufacturing plant,” he added.
*News source: http://tradearabia.com/news/CO...Back to all Construction News
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