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Sun 15 Apr 2007 12:00 AM

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Korean group nets lucrative Qatar deal

Energy City Qatar has signed a US$17.9m land and development deal with steel pipe manufacturer Hyojong Industrial.

Energy City Qatar has signed a US$17.9m land and development deal with steel pipe manufacturer Hyojong Industrial.

Hyojong president Yousef Al Kuwari said: "This deal is a step towards realising our ambitious plans and immense growth not only in the local market but also abroad.

"Hyojong's quality manufacturing with Energy City Qatar's vision to establish a sustainable setup for the Oil and Gas industry demonstrates our commitment to excellence and quality end product," he added.

Hyojong Industry is an alliance between Qatar Promotion Board lead by Sheikh Hamas bin Abdoulaziz Al Thani and Hyojong's original Korean owners.

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