Doha, 21 November 2005: General Electric Company (NYSE:GE) announced today that it will establish a major new technology facility, the GE Technology and Learning Center, at the prestigious Qatar Science & Technology Park.
Qatar Science & Technology Park (QSTP) aims to foster technology development in Qatar by providing world-class premises and services for companies from around the world in a free-trade zone. Part of Qatar Foundation's renowned Education City, which includes an array of leading international universities, QSTP provides a fertile environment for applied research and commercialisation.
GE's initial five-year investment in research and training at QSTP of $50 million was unveiled at a ceremony at Qatar Foundation's headquarters, following a meeting between Her Highness Sheikha Mozah Bint Nasser Al Missned, Chairperson of Qatar Foundation and David Calhoun, GE Vice Chairman. Also present was Dr Abdulla al Kubaisi, Chairman of QSTP.
Several GE divisions will participate in the GE Technology and Learning Center. Its focus will be technical training for customers of GE's Aviation and Energy businesses in the Middle East, Africa, Europe and Asia. In addition GE's Global Research Center, Oil and Gas, and Water divisions will undertake research and development of technologies applicable to local industry. Qatar's need for new technologies is growing as quickly as its economy, with investment in the energy sector alone forecast at $70 billion over the next five years.
Construction of GE's facility at QSTP will start in 2006 and it is expected to be fully operational in 2007. GE will base its regional customer service and business development operations at the facility, as well as conduct technical conferences and forums. GE staff will manage the center and deliver its research and training programs, with around 45 people expected to be employed by the time it opens.
Highlighting the significance of the GE Technology and Learning Center to Qatar's technological development, Her Highness Sheikha Mozah said "Qatar Foundation aims to enhance the intellectual and scientific capabilities of the country, and for this reason we warmly welcome GE's facility. Transferring the expertise and technology of leading companies to the Qatar population is an important part of our strategy, and GE is showing that it embraces this vision."
David Calhoun, GE Vice Chairman, agreed: "With our diverse and world-class technology, GE can bring unique capability to the Qatar Science & Technology Park. GE has a long history of supporting technology development in the Middle East region. We are excited about expanding our efforts to address the goals of Qatar."
Dr Abdulla Al Kubaisi, QSTP Chairman, noted that "GE is recognised among the world leaders in industrial technologies, so we are pleased that they have chosen Qatar Science & Technology Park as the location for their regional research and training centre. The science park is designed to help companies develop and commercialise their technologies in Qatar, so we are confident GE's centre will thrive here".
GE's technology divisions will lead the following activities in the new center:
AVIATION: The majority of GE's investment in the center will provide education and training in jet engine maintenance. Aircraft fleets powered by GE jet engines in the Middle East are growing significantly and creating new opportunities for airline flight-line and maintenance crews. The engine training will focus on overall familiarization, line maintenance, borescope inspection, troubleshooting, diagnostics monitoring, and fleet management. In addition, the center will provide technical and mechanical services to airline customers through GE's On-Wing Support program.
ENERGY: For regional employees and customers, training will focus on plant asset management, condition monitoring, equipment operation and maintenance, and leadership development. Energy will conduct courses in fully equipped labs, simulating a refinery or powerplant control room, or in product demonstration stations.
GLOBAL RESEARCH CENTER: Applied research will be conducted to enhance the Qatari technology and economic goals. Among the many potential areas of research:
*Water technologies - the applicability of large-scale desalination and purification of seawater, brackish and wastewater, and industrial gas-to-liquids technology.
*Emissions technologies -- collaboration with local universities and government agencies to help develop emerging environmental standards in Qatar.
*Oil & gas infrastructure -- to improve the reliability and durability of Qatar's oil and gas equipment, including pipelines and installations, in a hot and saline environment.
OIL AND GAS: GE's plan calls for a team of engineers to work primarily on new product initiatives and development. There will be a focus on turbomachinery technologies necessary for efficient and environmentally friendly use of local oil and natural gas reserves. The facility will provide aftermarket and field-support services for regional customers. WATER: A desalination and water re-use center will be staffed by scientists and engineers to develop new water and process technologies. The team will focus on applying proprietary GE technologies to Qatar's regional needs.
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Qatar Science & Technology Park is creating an ideal environment in which to develop and commercialise technology. It provides world-class facilities and services for companies from around the globe, and is fostering start-up technology enterprises. As part of the renowned Qatar Foundation, QSTP tenants have access to the region's leading research universities and their highly qualified graduates. QSTP is also one of Qatar's first free-trade zones, making it easy and attractive to set up a wholly-owned company in the country. By encouraging local technology development, QSTP is creating opportunities for scientists and entrepreneurs from across the Middle East, and spurring innovations that will benefit the region's industry and society.
For further information on GE:
Rick Kennedy (GE -- Aviation)
T: +1 1513-243-3372
E: [email protected]
For further information on QSTP:
www.qstp.org.qa
T: +974 492 7093
F: +974 481 2307
E: [email protected]
QSTP Press Office, Hill & Knowlton
T: +974 438 3818
F: +974 438 3838
E: [email protected]
WATER: A desalination and water re-use center will be staffed by scientists and engineers to develop new water and process technologies. The team will focus on applying proprietary GE technologies to Qatar's regional needs.
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Qatar Science & Technology Park is creating an ideal environment in which to develop and commercialise technology. It provides world-class facilities and services for companies from around the globe, and is fostering start-up technology enterprises. As part of the renowned Qatar Foundation, QSTP tenants have access to the region's leading research universities and their highly qualified graduates. QSTP is also one of Qatar's first free-trade zones, making it easy and attractive to set up a wholly-owned company in the country. By encouraging local technology development, QSTP is creating opportunities for scientists and entrepreneurs from across the Middle East, and spurring innovations that will benefit the region's industry and society.
For further information on GE:
Rick Kennedy (GE -- Aviation)
T: +1 1513-243-3372
E: [email protected]
For further information on QSTP:
www.qstp.org.qa
T: +974 492 7093
F: +974 481 2307
E: [email protected]
QSTP Press Office, Hill & Knowlton
T: +974 438 3818
F: +974 438 3838
E: [email protected]
Corporate Communications
[email protected]
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