Established in 2003, IQ operates in three main segments—petrochemicals, fertilizers, and steel—through its subsidiaries and joint ventures. In 2024, it produced 17.1 million metric tons and recorded sales volume of 10.3 million metric tons. In October 2024, its steel associate, Foulath Holding, which is 25% owned by IQ’s Qatar Steel, received a non-binding offer for full acquisition. In February 2025, the company decided to buy back part of its shares in the Qatari financial market, with a maximum limit not exceeding $274.7 million.