Qatar Fertilizer Company awards five-year scaffolding contract to Cape

Cape plc (CIU.LN), an international leader in the provision of critical industrial services to the energy and natural resources sectors, is pleased to announce that its Qatar operations have been awarded a five-year framework contract for the provision of scaffolding by Qatar Fertilizer Company (QAFCO) commencing in February 2017. Cape is already working with QAFCO under a separate framework contract for insulation maintenance work as well as other manpower supply contracts.

QAFCO is a joint venture between the Government of Qatar and a number of foreign shareholders. The country's first large-scale venture in the petrochemical sector, QAFCO was established with a view to diversify the economy and utilize the nation's enormous gas reserves. After successfully implementing several expansion projects over the past three decades, the Company has evolved into a world-class fertiliser producer. QAFCO is owned 75% by Industries Qatar and 25% by Yara Netherland.

Samir Chopra, Operations Director Qatar, commented: “We are very pleased to receive this additional framework contract from QAFCO and look forward to continuing our long-term relationship as we deliver on this and our insulation and civil manpower supply contracts.”

About Cape:

Cape (www.capeplc.com), which is premium listed on the main market of the London Stock Exchange, is an international leader in the provision of critical industrial services principally to the energy and natural resources sectors. Our multi-disciplinary service offering includes access systems, insulation, specialist coatings, passive fire protection, refractory linings, mechanical services, environmental services, oil and gas storage tanks and heat exchanger replacement and refurbishment. Cape employs c.16,400 people working across 19 countries and in 2015 reported adjusted revenue of £711.4 million.

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Cape plc                                                                +44 (0) 1895 459 500
Joe Oatley, Chief Executive
Michael Speakman, Chief Financial Officer
Ian Wood, Head of Investor Relations

 

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