Industries Qatar was incorporated in 2003, as part of a reorganization program.

1. Pre-Incorporation History:

The oldest of the IQ companies is QAFCO. Established in 1969, its inception marked the first significant step in the long road of Qatar’s industrial diversification program. Its first plant was inaugurated 5 years later, in 1973. Following this, in 1974, both QAPCO and Qatar Steel were incorporated. Qatar Steel commenced production in 1978, with QAPCO starting 3 years later, in 1981. The youngest of the group companies, QAFAC, was incorporated relatively recently, in 1991, with commercial operations beginning in 1999.

2. Post-Incorporation History:

Prior to 2003, Qatar Petroleum, the national oil company of the State of Qatar, had an interest in all of these group companies (with the exception of Qatar Steel, which was state-controlled). In April 2003, QP underwent a re-organisation whereby it assumed control of Qatar Steel, and also transferred all of its interests in the companies to the recently-formed, Industries Qatar.
After an Initial Public Offering (“IPO”) later that year, IQ was successfully listed on the Qatar Exchange "QE".
2003 also witnessed the acquisition by Qatar Steel of Qatar Steel Dubai Steel (August).
In 2004, QAFCO completed construction of QAFCO IV. Its first full year of operations, QAFCO IV significantly assisted IQ in posting record sales and profits.