Qatar's investments in storage zone hit USD760.26m

(MENAFN) Qatar's Ministry of Economy and Commerce announced that investments of Qatari companies in the new storage facility area are estimated to reach USD760.26 million, The Peninsula Qatar reported.

The ministry said that these investments are expected to increase following the facility finishing its Warehouse Project, which is expected to be carried out in a single phase within a period of about 24 months and will provide suitable storage facilities for small and medium-sized enterprises in terms of size, location and uses.

"The vital project launched by the government is an important step in the development of the logistics services sector in Qatar, and for keeping pace with the economic boom in the country. We have to accelerate steps to move from the planning stage to the implementation stage in an effort to launch a national project that will contribute to the expansion of the private sector's contribution to the GDP", The Minister of Economy and Commerce said.