Qatar Aluminum Manufacturing Company (QAMCO) is a Qatari Public Shareholding Company incorporated on December 3, 2018 under commercial registration number 126659. The principal activity of the Company is to operate as a holding company. Headquartered in Doha, Qatar, QAMCO was founded by Qatar Petroleum, as the sole founder, under Article 68 of the Commercial Companies Law, to own its 50% stake in Qatalum, a highly profitable producer of aluminium. The Authorized share capital is QAR 5,580,120,000 divided into 558,011,999 ordinary Shares and one (1) Special Share.
Head Office Functions and Management Structure
Qatar Petroleum provides all of the head office functions for QAMCO through a comprehensive services agreement. The operations of the subsidiary remain independently managed by its respective Board of Directors and senior management team.
Details of major shareholdings are as follows:
|SHAREHOLDER||PERCENTAGE OF SHARES (%)|
|General Retirement and Social Insurance Authority||5%|
The Company is founded by Qatar Petroleum as sole founder under Article 68 of the Commercial Companies Law. H.E. the Minister of Economy and Commerce has issued the decision of the establishment of the Company on 15 October 2018.
Qatar Petroleum has transferred its entire equity interest in Qatar Aluminium Limited Q.S.C., an equal joint venture between Qatar Petroleum and Hydro Aluminium of Norway, to QAMCO.
Qatar Petroleum has authorised the allotment of an initial issued share capital of QAR 5,580,120,000 divided into 558,011,999 ordinary Shares and one (1) Special Share with a nominal value of ten (10) Qatari Riyal each.
QAMCO holds 50% of the issued share capital of Qatar Aluminium (Qatalum). The other 50% of the issued share capital of Qatar Aluminium (Qatalum) will be held by Hydro Aluminium Qatalum Holding B.V. The shares in Qatar Aluminium (Qatalum) held by the Hydro Shareholder will remain held by it.