Samsung C&T's construction division will embark on the infrastructure project of the Qatar Free Zone in partnership with the Qatar Free Zone Authority.
Samsung C&T announced on the 25th that it had signed a memorandum of understanding with the Qatar Free Zone Authority (QFZA) for joint investment and technological cooperation in future sustainable infrastructure projects in Qatar at the Ras Bufontas Business Innovation Park located in Doha, the capital of Qatar.
QFZA is a dedicated agency established in 2018 to secure future growth drivers and improve the economic structure in accordance with Qatar's medium- to long-term development plan, 'Qatar National Vision 2030.' QFZA is currently focused on securing future growth drivers by creating three special economic zones centered around Hamad International Airport and nearby port areas, building infrastructure across various industries, including logistics, manufacturing, and technology.
The event was attended by senior executives from both companies, including O Se-cheol, president and CEO of Samsung C&T, and Sheikh Mohammed Al Thani, CEO of QFZA.
The two sides agreed to explore extensive cooperation and specific implementation plans for sustainable infrastructure projects, including solar power generation and data centers, which are scheduled to be established in the Qatar Free Zone.
QFZA will provide land, infrastructure, and various permits, as well as legal, regulatory, and incentive support. Samsung C&T plans to provide the technology and know-how necessary for executing and operating infrastructure projects, including joint investment in various projects.
CEO Al Thani noted that "this agreement will be an important turning point in transforming Qatar into a global platform with sustainable innovation and advanced technology" and said, "We will actively support global leading corporations like Samsung C&T in leading Qatar's future industries, creating long-term value across all areas, including economic, social, and environmental."
President O stated, "We plan to actively participate in projects that can contribute to achieving Qatar's national vision through various collaborations with the Qatar Free Zone Authority in areas like green energy and digital infrastructure."
Samsung C&T aims to actively expand participation opportunities in various infrastructure projects as a result of this agreement. The company is currently executing multiple plants in Qatar, including a massive solar power generation project with a capacity of 875 MW, a liquefied natural gas (LNG) terminal, and desalination-combined cycle power generation.