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Executive Focus

Hesham Al-Emadi, CEO, Energy City Qatar February 2012

News & Events
SHAREHOLDERS of the Energy City Qatar (ECQ) Holding Company agreed on restructuring the company through rights issue with a total value of $202 million.


The rights issue will be offered to 180 Qatari investors, senior retail investors from the GCC and real estate and financial institutions.

The shareholders at the annual general meeting also elected a new board of directors, chaired by Rashid Nasser Sraiya Al Kaabi.

Speaking at the AGM, Kaabi said, “The company has made great strides during the last year as it continues to be at the forefront of the smart city project in the region.” He said the company has identifying new sources of financing and cost-competitive methods to achieve maximum return on investment.

“Energy City Qatar is approaching the completion stage and the management is developing a strategy for longterm growth based on the vision and mission of the city,” AlKaabi said.

Energy City Qatar is the region’s first integrated business hub dedicated to the hydrocarbon industry providing a single point of access to markets and expertise.

The project has the full support of the Qatari government and will lead the way in hydrocarbon resource development.

Energy City Qatar forms part of the major new city development, Lusail, which is being developed by Qatari Diar Real Estate Investment Company. In addition to business and entertainment districts, this development will be home to 200,000 residents.

Energy City Qatar CEO Hesham Al Emadi said, “Energy City Qatar is a step in making the country a leader in the production and export of clean energy.

The city will become the first integrated energy centre in the Arabian Gulf and the Middle East and North Africa region.” “The project is expected to cost more than $ 3 billion,” AlEmadi said.

Al Emadi said Energy City Qatar is making all efforts to be recognized as a smart city with advanced technology.