Qatar Steel has adopted a three-time horizon approach to is growth strategy hinged on the need to marry profitability with sustainability and the drive of the Qatar National Vision 2030. The company recognizes the need for Carbon Neutrality and has redrafted its Vision and Mission statement to recognize the ever-increasing responsibility business has towards achieving globally set standards, in this vain Qatar Steel became a signatory to the World Steel Associations Sustainability Charter in 2022.
Qatar Steel has also recognized the need for greater agility in its operations, whereby the ability to idle and restart capacity in order to meet market short term demands is paramount. Qatar Steel demonstrated this in 2022 by restarting its larger DRI facility and idling the smaller unit, thus giving a cost of production benefit and freeing additional DRI production for sale.
The company also has recognized the global trend towards Net Zero steel emissions and given that the DRI/EAF route generally has lower GHG emissions than that of the traditional BF/BOF route plants it is positioning itself to be a supplier of Carbon Neutral steel and metallic to the regional and global markets. The trend towards decarbonization will also hasten the companies drive towards diversification in saleable product range, and inroads into new markets were established in the 2021/22 period