Qatar Steel, based in Doha, specializes in the manufacture and distribution of molten steel, coil, wire rod, sponge iron, steel billets and bars; epoxy coating of steel bars; manufacture of stainless steel products and direct reduction pellets.

Previously known as QASCO, Qatar Steel was purchased, in 2003, by Industries Qatar. The company’s plant consists of four units that include direct reduction, electric arc furnace, continuous casting, and rolling mill. The plant also includes a material receiving/handling unit, a main power substation, a quality control center, maintenance shops and facilities for sea/fresh water and compressed air and natural gas. The plant occupies an area of 707,000 sq. m (7.6 million sq. ft.), with an adjacent area of 375,000 sq. m (4 million sq. ft.), reserved for future expansion—figures as of 2009.

To meet the growing demand for steel in the region, Qatar Steel embarked on a series of initiatives, in 2008, aimed at increasing its production capacity. Annual production of molten steel grew by 22%, to 1.175 million metric tons; billet production grew by 22.4%, to 1.147 million metric tons and steel production reached 1.150 million metric tons.

Qatar Steel Dubai, the company’s subsidiary, also launched an expansion plan, increasing its wire rod production to 240,000 metric tons and aiming to push production of re-bars to 300,000 metric tons, by the end of 2009. In Bahrain, Qatar Steel has stakes in the United Stainless Steel Company, the Gulf Industrial Investment Company and the Qatar Metals Coating Company.

Qatar Steel’s consolidated net income, in 2008 grew by 16.5% to QAR 1 billion (274,804,545 USD), while its net cash income, in 2008 grew 60.7% by QAR1.5 billion (412,206,818 USD).

Qatar Steel is pursuing its growth plans to achieve an annual production target of 4 million tons of steel by 2014. It plans to break into the MENA markets, including Egypt, Yemen, Iran and Iraq, in 2009.