Aamal Energy Signs Five-Year Procurement Contract Worth More Than $27.4 Million
The Aamal Company subsidiary will run maintenance, repair and operations purchasing for a local client under an agreement initially valued above QAR 100 million.
Aamal Energy, a subsidiary of Aamal Company, has signed a five-year procurement services contract with a local company. The initial value of the agreement exceeds $27.4 million, which is more than QAR 100 million.
The mandate covers low-risk maintenance, repair and operations commodities and consumables. Aamal Energy will source suppliers, evaluate bids, place purchase orders, coordinate deliveries and close out orders, and it will also follow up on claims and warranties.
Aamal Company described the contract as an important step in the subsidiary's business development and said it supports a push into sectors with long-term growth opportunities. The company said the deal strengthens Aamal Energy's place in Qatar's energy and industrial supply chains.
A wider supplier base
The agreement is intended to broaden Aamal Energy's relationships with equipment manufacturers and specialist suppliers, and to build on its record in industrial and energy procurement. That experience is meant to support bids for further procurement work and related industrial services, including collaboration with international companies seeking to expand in Qatar.
Rashid bin Ali Al Mansoori, chief executive of Aamal Company, called the contract an important milestone for Aamal Energy. He said it advances a strategy to build a broader presence in energy and industrial services, and gives the subsidiary a chance to develop specialist expertise and demonstrate its capabilities through delivery.
The scope is deliberately narrow: low-risk consumables rather than core plant equipment. That keeps exposure limited while handing Aamal Energy a recurring purchasing mandate inside a supply chain it wants to grow into. Contracts of this length are usually judged on execution rather than on signing, and the volume actually handled will show how far the mandate carries the subsidiary toward a larger industrial services business.
Share price
Aamal Company shares traded at $0.18, or QAR 0.64, on the Qatar Stock Exchange on Thursday, October 22, down 0.47% as of 1:45 pm Arabia Standard Time. Market capitalisation stood at $1.1 billion, or QAR 4.032 billion.
Al Faisal Holding is the majority shareholder in Aamal Company and ranked eighth on a 2026 list of the Top 100 Arab Family Businesses. Faisal Bin Qassim Al Thani chairs Al Faisal Holding; his estimated net worth was $1.5 billion as of October 22, 2026, placing him 25th on a 2026 list of the World's Richest Arabs.
