A contract between Qatar Steel and Siemens VAI has been signed and plans for the construction of a new plant to meet swelling demand for steel in Qatar are underway, according to a recent company statement.
Capacity at the new plant is set at 1.1 million tonnes annually and production will begin during the first three months of 2013, as stated by a spokesman of Qatar Steel. There was no value set on the project.
The plant’s location will be Mesaieed, an industrial city in Qatar that already holds one Qatar Steel plant with an annual production of around 2 million tonnes.
Qatar Steel is part of Industries Qatar and purchased 20 percent of the Saudi Arabian firm South Steel Company last year to deal with increasing demands and to supply the nearby markets in Yemen and Africa.
Although Qatar continues to be the largest liquefied natural gas exporter in the world, the nation has been diversifying into other industries. The inauguration of a large aluminium plant worth $5.7 billion occurred in December of 2009.Andrew Reid, Staff Writer, Gulf Jobs Market News