The Ministry of Commerce and Industry of Qatar announced that a steel supply agreement worth $1.266 billion has been signed between Qatar Steel and Bahrain Steel. The agreement covers the supply of 5 million metric tons of steel over five years and aims to strengthen industrial cooperation between the two countries.
The Ministry stated that this agreement was carried out within the framework of the Integrated Industrial Partnership for Sustainable Economic Development. It emphasized that such agreements between the private sectors of member countries aim to increase bilateral cooperation in various industries such as agriculture, food, fertilizers, pharmaceuticals, textiles, chemicals, plastics, and metals.
This strategic partnership will ensure stability in the supply of essential raw materials for Qatar Steel’s operations, enhance production efficiency, and support sustainable economic development in the region.
The Ministry also foresees that the agreement will create new investment opportunities, increase the competitiveness of the industrial sectors in Qatar and Bahrain, and contribute to the development of strong local supply chains in the region, helping achieve greater self-sufficiency in raw materials. These developments are expected to positively reflect on national economies and market stability.
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