Acquisition of QCon

In September 2009, a consortium comprising Bank Alkhair, Qatar America Asia Consortium (QAAC), Qatar First Investment Bank (QFIB), and The First Investor (TFI) acquired 100% of Qatar Engineering & Construction Company WLL (QCon), one of Qatar’s leading industrial engineering and construction contracting companies operating in the Oil & Gas, Petrochemical and Power sectors, from Qatar Shipping. Bank Alkhair was the Co-Originator and Arranger of this transaction.

Founded in 1975, QCon is organised along three main business lines: Engineering, Procurement and Construction (EPC); Maintenance; and Fabrication. The company has successfully executed over 1,400 construction projects to date in a broad range of industrial sectors. QCon is the leading contractor in Qatar’s Oil & Gas sector and is also the market leader in the provision of maintenance services. The company also has dedicated facilities to carry out the fabrication of heavy off-shore structures, including a topside production facility located in Qatar’s Mesaieed Industrial City.