SteelOrbis is informed that Qatar Steel plans to increase its production capacity of DRI/HBI to 2.35 million mt, to up its molten steel capacity to 2.45 million mt, raise its billet capacity to 2.40 million mt and its rebar capacity to 2.30 million mt by 2010.
The company has made many investments to secure raw materials up to now. In January 2007 Qatar Steel's BoD approved the purchase of a 25 percent stake in Gulf Industrial Investment Company (GIIC), a Bahrain-based pellet supplier in the Gulf region. Meanwhile, Qatar Steel acquired a 49.9 percent share in the Guelb El Aouj iron ore project in northern Mauritania, Northern Africa, to ensure regular supplies of DR grade pellets.
The company owns a nine percent share in Sphere Investments Ltd, an Australian iron ore mining company.
Other investments include the establishment of Sphere Petroleum focusing on oil and gas exploration in West Africa with Perth-based Sphere investments.
Owning 25 percent of Bahrain-based United Stainless Steel Company, Qatar Steel plans to raise its steel capacity to four million mt tons by 2012 with investments in flat steel production.