ACHIEVING PROFITABLE GROWTH and BUSINESS PORTFOLIO
Despite multiple external and internal challenges, Qatar Steel succeeded in achieving impressive business results in the year 2018. Due to the blockade that was enacted by neighboring countries in June 2017, Qatar Steel had to conform to new geopolitical realities and worked to shift its export sales strategy to 100% non-GCC markets. In order to adapt to the highly competitive steel markets in exports, the company maintained high operational efficiencies with all production facilities running to full capacity, with emphasis on the highest safety standards and regular improvements. By building on progress made in 2017 to develop new markets, in addition to the Qatar Steel primarily in the ASEAN region, Qatar Steel accomplished its aim of preserving its sales volume and consistently delivering high quality products to ASEAN markets, such as Singapore and Hong Kong.
Qatar Steel is committed to supporting the Qatar National Vision 2030 in its drive to contribute to national socio-economic development, by generating sustained rates of reasonable growth and contributing to a diversified and prosperous Qatari society to benefit the present and the future generations. In this regard, Qatar Steel continues to partner with loyal clients, including the state of Qatar, which has commendably continued to finance major projects in the lead up to FIFA World Cup 2022.