In the second half of Jan 2014, EPS Qatar will sign the License Agreement with INEOS Commercial Services UK Limited a license agreement.
Under the agreement, INEOS will grant EPS Qatar the license to produce Expandable Polystyrene in a plant which is to be built in Qatar with a capacity of 50,000 metric tons per annum. The plant is expected to begin production at by mid 2017.
“This step is very important to EPS Qatar because it shows how a Qatari investor is willing to invest in the petrochemical sector as a response to the call of His Highness the Emir,” says Ihab ElZahaby, CEO of EPS Qatar. “This plant will be the biggest throughout the MENA region with its first phase, there is a growth as well in the downstream of this industry which is the Expanded Polystyrene which is widely used now in insulation, decoration, packaging.”
For EPS Qatar, the signing of a technology license will represent a new phase for the company, and for the region’s capacity to produce products that meet market needs. “The technology we will be bringing into Qatar is internationally proven by a well known and reliable international licensor with full technical support in addition to the high standard of the process used itself in terms of quality, safety, performance,” says ElZahaby. “Moreover, as the GCC countries’ construction sector continues to mature we will find that there is more demand to build eco-friendly green buildings where all efforts are collaborated to save energy in the new buildings and one of the very significant methods to do that is having a proper insulation using the EPS insulation sheets, which in some projects, have already showed a power saving over 50 per cent.”
