Qatar Steel to Raise in Saudi Company to 40%, Al Sharq Says

Qatar Steel Co., a unit of Industries Qatar (IQCD), decided to raise its stake in Saudi Arabia’s new South Steel Co. to 40 percent from 30 percent to strengthen its investments in countries belonging to the Gulf Cooperation Council, Al Sharq reported, siting unidentified people close to the transaction.

Industries Qatar’s investor relations department didn’t immediately return an e-mail for comment.

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.