News-Spot | Business News | Feb 10, 2014

Qatar Based Alwaseeta Enters LED Business By Signing Joint Venture Agreement with QKLC

Qatar Intermediate Industries Company (Alwaseeta) has signed a joint venture agreement with Qatar Korea LED Consortium (QKLC) for setting up a light-emitting diode (LED) lighting systems’ manufacturing facility in the country.

Alwaseeta, a Qatar Petroleum subsidiary, will have a 75% stake in the project, while the remainder will be held by QKLC. The 60,000 sq m factory will have an initial production capacity of 155,000 LED units a year.
The project will be implemented in two phases, with the LED manufacturing plant to be built initially and scheduled for completion by 2016.

The second phase will involve installing LED chip packaging, establishing a state-of-the-art R & D Centre, and subsequently setting up a demonstration centre for simulating real-time conditions. The project’s final phase is expected to be completed by 2018.

Alwaseeta is primarily involved in the development of a broad range of intermediate and downstream industrial projects.

QKLC is made up of prominent Korean LED companies and governmental institutes, such as the Korea Photonics Technology Institute (KOPTI) and Korea Association for Photonics Industry Development (KAPID).

The Q-LED Project will be involved in continuous research and development in integrated LED management and solution systems. These systems will provide more convenience and smart management control to customers.
They can also result in up to 70%-80% in energy savings compared to conventional lighting, such as incandescent and fluorescent lights. In addition, they will contribute to a substantial reduction of CO2 emission as a result of reducing power production from power plants.

The Q-LED Project will also be a catalyst for the development of related industries. It is anticipated that through this project, Qatar would eventually become the frontrunner of the LED lighting industry in the Mena (Middle East and North Africa) region.

The agreement was signed by HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada, also Alwaseeta chairman, and Dr Tai-Kyoo Kim, chairman, QKLC.

Also present during the signing ceremony was Ali Hassan al-Sidiky, Alwaseeta vice chairman and managing director.

Al-Sada said, “Qatar is witnessing dynamic development and remarkable growth in various sectors, including the construction sector, which is witnessing a rapidly growing demand for LED lighting. This agreement will aid Qatar’s strategic approach to developing investment projects across a range of vital sectors, and will also help deliver explosion-proof LED lighting for the oil and gas industry, and special LED lighting for commercial use, such as for street and stadium lighting, traffic signals, and so on.

“The LED project will also establish stringent specifications that are specially designed for the climate in the Mena region.” Kim said, “This agreement will see the building of joint ventures on a solid foundation, which is a win-win situation for both Alwaseeta and QKLC. It will also pave the way for broader investment opportunities and developing the local and regional LED industry, which will be an important contributor to Qatar’s vibrant economy.”

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