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FINANCIAL NEWS
Qatar Steel to boost production by 30%
05 Jun 2010
(MENAFN) Mesaieed-based Qatar Steel said that the company?s melt shop capacity would go up by about 30 percent following an ?upgrade project? agreement signed with Siemens VAI, one of the world?s leading engineering and plant-building firms, Reuters reported.
The deal facilitates the supply and installation of core equipment required for the upgrade. The project will also take care of the emissions through a sophisticated ?off-gas treatment system?. The new plant will be commissioned by the second quarter of 2012, Qatar Steel said.
Furthermore, the company signed a contract with Intico of Austria in January 2010 for supervising the implementation of this new project, after the basic construction studies for renovation were complete.
The main equipments for the project are expected to start arriving in the second quarter 2010, and the first operational phase to complete in 2011.
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