Doha – East:

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Today, the Board of Directors of the Qatar Electricity and Water Company approved the company’s financial results for the nine-month period ending on September 30, 2020 and approved the financial statements for this period, which were reviewed by the external auditor Ernst & Young. The financial data showed that the company’s sales amounted to 1951 million Qatari riyals compared to An amount of 1785 million Qatari riyals for the same period of the year 2019, an increase of 9%, and the financial data also showed that the company achieved a net profit of 1034 million Qatari riyals after excluding minority shares, compared to an amount of 950 million Qatari riyals for the same period in 2019, an increase of 8.8%. Earnings per share amounted to 0.94 Qatari riyals per share, compared to 0.86 Qatari riyals per share for the same period in 2019.

The Council also expressed its satisfaction with the progress made in the expansion project of Umm Al Houl Energy Company, 61.45 million gallons per day, despite the impact of the Corona virus “Covid-19”. The Council also followed up on the progress made in many other projects under implementation, such as the Siraj 1 solar energy project, 800 megawatts for energy, and the ongoing study of the electricity and water project to be established in the Ras Abu Fintas power station, 2300 megawatts for energy and 100 million gallons per day, and many external projects of Nebras Energy. The Council approved the appointment of Mr. Muhammad bin Nasser Al-Hajri as the General Manager of the Qatar Electricity and Water Company, as of early January.