Qatar Steel and Bahrain Steel announced the signing of an agreement worth $1.266bn, covering 5 million metric tons over five years.
The deal will enhance industrial cooperation between the two sides and strengthen the steel industry in the region.
Qatar’s Ministry of Commerce and Industry said that the agreement comes within the context of the Industrial Partnership for Sustainable Economic Development, noting that the agreements between the private sector in the member states aim to enhance bilateral cooperation in a range of sectors, including:
- Agriculture
- Food
- Fertilisers
- Medicines
- Textiles and clothing
- Chemicals
- Plastics
- Manufacturing products
- Minerals
Qatar and Bahrain steel deal
The ministry indicated that this strategic partnership ensures a stable supply of essential raw materials for Qatar Steel’s operations, which enhances production efficiency and supports sustainable economic development in the region.
The ministry anticipated that the agreement would generate new investment opportunities, enhance the competitiveness of the industrial sectors of both countries, support regional efforts to develop strong local supply chains, and achieve greater self-sufficiency in raw materials, which would contribute positively to national economies and market stability.
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