Cost Optimization

It is expected that steel demand in GCC will contract by around 4% during 2019 mainly on account of slowing construction demand, lack of liquidity in the market, and uncertainty related to signals of a global economic slowdown. To prepare for this, and also in part as a result of the blockade in 2017, Qatar Steel diversified into new markets outside the GCC, predominantly in ASEAN- countries, where there is promising growth of 5.2—5.4 % per annum in Asian countries (excluding china) between 2018 and 2023.Qatar Steel foresees a continued focus in the coming years on raising HSE standards, seizing growth opportunities through prudent investments in line with IQ’s strategies, and increasing cost efficiencies. Through organizational and operational improvements, the company expects to achieve these goals while optimizing costs.