The minister noted that this financial year was also noteworthy for two other reasons.
The first, he added, was that it marked the first full year of operation for QR 12.8 billion of petrochemical and fertilizer facilities launched during 2012 which added two million MT/PA of urea and 240,000 MT/PA of LDPE to the groups existing capacity, increasing the overall production capacity from 13.7 million MT/PA to 16.0 million MT/PA.
He said the the groups credit ratings with Standard and Poor's and Moody's were maintained at AA- and AA3 respectively in the companies' annual reviews - placing
Al-Sada stated that "these resolute financial results serve to vindicate the previous decisions of the Board of Directors to invest heavily in improving the efficiency of existing facilities and in expanding capacity, and lend support to the future investment plans as outlined in the recently announced group growth strategy - sustained growth throughout the commodity cycle can only be assured through judicious, yet bold, investment in improving capacity." (end) nnd.mb
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