Mubasher: Qatari and Kuwaiti investors have agreed to establish a Qatar-based plant to produce aluminum bars and power cables with more than QAR 70 million ($19.2 million) in investments.

The new plant’s total production capacity is expected to reach 50,000 tonnes per year, Qatari investor Khaled Al Morshed said.

Qatar Development Bank (QDB), a state-founded body which lends to firms, will provide a large amount of the total cost in addition to investors’ capital, Al Morshed added.

Construction works of the project are set to start in the second quarter of 2018, while the plant’s commercial production will begin in the third quarter of 2019, according to the Qatari investor.