Qatar Steel actively contributes to the country’s economic development by supporting the growth of local businesses through a supply chain localization program called ‘Tawteen’. Tawteen is a strategic initiative led by Qatar Petroleum which contributes to developing the local economy by providing new opportunities and capacity building for Qatari based companies, particularly small and medium enterprises (SMEs). The program consists of three key pillars: new investment opportunities, supplier development initiatives and a new In-Country Value (ICV) Policy.
“Affected by the pandemic and reduced demand in export market, Qatar Steel had to revise production plan
which has reduced imports of key Raw Materials to utilize inventory. Our local acquisition accounted for 62% of the overall procurement costs throughout 2020 at a time of crisis and global supply chain disruption triggered through COVID19.”