The Qatari Electricity and Water Company, a Qatari public shareholding company, announced Sunday its amended Articles of Association following the approval of the extraordinary general assembly in its meeting held on March 14. Also, the company increased the non-Qatari investor's ownership percentage to 100 percent of the capital.

This announcement was made in a statement by the company published Sunday on the Qatar Stock Exchange website.

The company was established in 1990 to own and manage electricity generation and water desalination plants and selling their products. It is one of the region's pioneering companies operating in the field of electricity production and water desalination. Its authorized capital is QR 1,100,000,000, divided into 1,100,000,000 shares, with a nominal value of QR 1 per share.

During the first half of 2023, the company achieved a net profit of QR 769 million, compared to QR 685 million for the same period in 2022. The earnings per share amounted to QR 0.70 compared to QR 0.62 during the same period in 2022.

Source: Qatar News Agency