QASCO aims to expand production up to 4 million mts

Monday, 12 January 2004 17:15:23 (GMT+3)   |  
       

QASCO aims to expand production up to 4 million mts

According to reports from the industry, Qatar Steel Co. (QASCO), which describes last year as brilliant in terms of local and regional production and sales, is planning to expand its production capacity gradually within 10 years. Upon completion of the expansion plans, iron production is expected to reach 4 million mts from 800'000 mts. QASCO states that they placed these expansion plans on the agenda as the growth in investments of the property and major infrastructure projects is predicted to go on for the next 10 years. Thus the steel demand from Gulf Cooperation Countries (GCC) is forecasted to improve within the specified period. Accordingly, the company is planning to meet requirements of the market as well as to spread markets abroad, such as US and South East Asia, with exports. In the first phase, 1.5 million mts of iron is scheduled to be added to current capacity, 500'000 of which will consist of molten steel. Three expansion plans are in tender process that will be finalized until second quarter of this year. These plans are scheduled to complete by early 2006.

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