Qatar Steel’s Board of Directors has recently approved to increase the company’s stake in South Steel of Saudi Arabia, from 20.9% to 29.74% (by additional 9%), amounting to QS 90 million Saudi Riyals. South Steel, located in Jazan Economic Area in Saudi Arabia, consists of an integrated Steel melting complex, with a capacity of 1 million MTPA of Steel billets and 500,000 MTPA of Steel reinforcement bars. South Steel is currently meeting the requirements of local Saudi markets, and particularly the South Area. The surplus production is marketed to other areas inside Saudi Arabia and the neighboring markets of Yemen and Africa. Qatar Steel is providing all technical support to South Steel in all areas; operations, production, administration, marketing and training. Qatar Steel is a leading industrial company producing iron and steel in the Arabian Gulf. Today the company is proud of its outstanding reputation in local and world markets, Read more…


In line with its ambitious vision to be universally recognized as a leading and constantly growing force in the steel industry of the region, and in light of its excellent business relations with local financial institutions, Qatar Steel, a wholly owned subsidiary of Industries Qatar (IQ), has signed a subordinated loan facility agreement for a medium-term loan facility of USD 250 million (QAR 912.5 million), with a syndicate of two banks; the International Bank of Qatar (IBQ) and the Union National Bank (UNB). IBQ, the facility agent, will provide USD 150 million (QAR 547.5 million) of the project’s cost with UNB funding the remaining balance of USD100 (QAR 365 million). The loan facility agreement was signed on behalf of Qatar Steel by Mr. Ali Bin Hasan Al-Muraikhi, Director and General Manager, Mr. George Nasra, Managing Director of IBQ and Mr. Ala’ Abu Mughli, Senior Vice President and Country Head of Read more…


In support of the community’s environmental activities, Qatar Steel organized on 19/11/2011 a beach cleaning drive in Al-Wakra, in cooperation with Al Wakra Municipality. About 150 employees from the company have volunteered to participate in this event, which was held under the slogan “preserving the environment is one of our most important goals.” Al Qadisiya Model local primary school for boys has joined Qatar Steel in this drive, with about 50 volunteers. Qatar Steel’s environmental policy aims at preserving the environment and maintaining its cleanliness. As a rule, it communicates with various environmental bodies and authorities, to develop an environmental awareness culture in the society, and to warn all the individuals of the dangers of waste dumps in the coastal areas. Shuttle buses were arranged by the company to transport volunteers to the shore site in Al-Wakra. Volunteers were provided with cleaning tools and equipment, such as gloves garbage bags Read more…