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

Qatar Steel Co., a unit of Industries Qatar, 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.

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