QAMCO Joint Venture to strengthen its market position – The Peninsula

QAMCO Joint Venture to strengthen its market position – The Peninsula

Doha: Qatar Aluminium Manufacturing Company’s (QAMCO) Joint Venture (JV), going forward, will remain focused on its five-year strategic plan and strengthen its market position said Chairman of the Board of Directors, QAMCO Abdulrahman Ahmad Al Shaibi. Addressing the shareholders during the Annual General Assembly Meeting, Abdulrahman Ahmad Al Shaibi said that the company would work relentlessly to enhance shareholder value, with a strategic intent to remain a cost-competitive aluminum producer and achieve operational excellence with higher safety and environmental standards.

Annual General Assembly Meeting approved the Board’s recommendation for a dividend payment of QR0.08 per share for 2021, representing 8 percent of the nominal share value. The Extraordinary General Assembly (EGM) approved an amendment to increase the non-Qatari ownership limit in the Company’s share capital from 49 percent to 100 percent, ensuring that all relevant requirements are fully met.

Addressing the shareholders the Chairman said that while macroeconomic sentiments remained positive, QAMCO’s JV continued to focus on operational excellence, safety, growth and sustainability. “Operational excellence was mainly driven by continuous optimization of our processes, improved reliability, and enhanced asset integrity. On the sustainability front, our JV continued to limit the environmental impacts of its businesses while enhancing energy efficiency and conservation measures,”