33. Industries Qatar (IQ)

Country: Qatar
Sector: Industrials
Chairman and Managing Director: Saad Sherida Al-Kaabi
Market Value: $19.9 billion
Sales: $3.2 billion
Profits: $1.3 billion
Assets: $11.8 billion

Established in 2003, IQ operates in three main segments—petrochemicals, fertilizers, and steel—through its subsidiaries and joint ventures. In October 2023, IQ’s subsidiary, Qatar Steel, fully acquired Al Qataria for Production of Reinforcing Steel for $95 million. The Qatar Steel and the Qatar Fertiliser Company are wholly-owned subsidiaries of IQ. QatarEnergy is the major shareholder with a 51% stake.