The Ministry of Commerce and Industry in Qatar has announced the signing of a $1.266 billion agreement between Qatar Steel and Bahrain Steel. This deal, covering 5 million metric tons over five years, aims to enhance industrial cooperation between the two companies and strengthen the steel industry in the region.
According to the ministry, this agreement is part of integrated industrial partnership agreements focused on sustainable economic development. These agreements between private sector entities in member states aim to enhance bilateral cooperation across various sectors, including agriculture, food, fertilizers, medicines, textiles and clothing, chemicals, plastics, manufacturing products, and metals.
The strategic partnership ensures a stable supply of essential raw materials for Qatar Steel operations, boosting production efficiency and supporting sustainable economic development in the region.
The Ministry expects the agreement to generate new investment opportunities, enhance the competitiveness of the industrial sectors in both Qatar and Bahrain, and support regional efforts to develop strong local supply chains. This will contribute to greater self-sufficiency in raw materials, benefiting national economies and market stability.
