Qatar Steel to expand its capacity

Qatar Steel to expand its capacity

Qatar Steel Company announced plans to invest $558 million to expand its production capacity in an effort to meet rising demand from both local and foreign markets. In line with the expansion plan, iron ore production will be increased from the current 1.5 million tons to 2.3 million tons, while molten steel production will be increased from the current 1 million tons to 1.5 million tons. Moreover, with the installation of a new rolling mill, rolling capacity will increase by two-fold and reach 1.5 million tons. The expansion plan, which is scheduled to be completed by 2007, aims to meet demand from the local market, as well as from the United Arab Emirates and Saudi Arabia.