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QATAR DUBAI Qatar Steel Company (Q.S.C.) Qatar Steel Company FZE P.O. Box 50090, Mesaieed, State of Qatar P.O. Box 18255, Jebel Ali Free Zone Tel. +974 4778778, Fax +974 4771424 Dubai, United Arab Emirates E-mail [email protected] Tel. +971 4 8053111, Fax +971 4 8053222 Website www.qatarsteel.com.qa E-mail [email protected] Website www.qatarsteel.ae His Highness Sheikh Hamad Bin Khalifa Al-Thani Emir of the State of Qatar His Highness Sheikh Tamim Bin Hamad Bin Khalifa Al-Thani Heir Apparent Contents Board of Directors 7 Senior Management 9 Chairman’s Message 10 Director and General Manager’s Message 12 Brief about Qatar Steel 14 Direct Reduction Department 16 Material Control Department 18 Steel Making Department 22 Rolling Mill Department 24 Health, Safety & Environment Department 26 Engineering Department 28 Commercial Division 30 30th Anniversary Celebrations 32 Vision We endeavour to be universally recognised as a leading and constantly growing force in the steel industry of the region, and to be admired for our business culture, for building value for our shareholders and customers, and for bringing inspiration to our people. H.E. Yousef Hussain Kamal H.E. Dr. Mohammed Saleh Al-Sada Chairman Vice Chairman Sh. Nasser Bin Hamad Al-Thani Mr. Fahad Hamad Al-Mohannadi Director Director Mr. Abdel Rahman Ahmed Al-Shaibi Dr. Nasser Mubarak Shafi Al-Shafi Mr. Mohamed Hitmi Ahmed Al-Hitmi Director Director Director page 7 CELEBRATING YEARS 1978-2008 Mission We will continue to be the first name in the region’s steel industry by harnessing our assets and resources to achieve profitable growth, operational and organisational excellence, and good corporate citizenship. Sh. Nasser Bin Hamad Al-Thani Director & General Manager Eng. Mohammed Tahir Al-Hammadi Mr. Ali Bin Hassan Al-Muraikhi Mr. Saad Rashid Al-Mohannadi Projects Division Manager Commercial Division Manager Procurement & Warehousing Division Manager Mr. Yousef Abdulla Q. Al-Emadi Mr. Kefah Mustafa Al-Mulla Mr. Husein Hassan Murrar Production Division Manager Administration Division Manager Business Development Manager Mr. Remy Rowhani Dr. Idris I. Gamil Mr. Malek Hamdieh Finance Division Manager Senior Legal Advisor & Board Secretary IT Manager page 9 The year 2008 was an exceptional year for Qatar Steel Qatar Steel’s Consolidated Net Income in 2008 was with its products experiencing strong demand and QR 1020 million compared to QR 858 million in 2007. high prices, especially during the first half, despite a The Net Cash Income during 2008 was QR 1511 million freeze in prices in the local market at the March 2008 against QR 933 million in 2007. level as a measure taken to support the economy. The 2008 Performance Highlights Company’s production and sales witnessed an upward Total shipments reached 1.884 million MT, of which trend till the last quarter, during which the demand rebars accounted for 1.632 million MT, billets accounted slackened substantially in the regional markets for 72 KMT and DRI/HBI accounted for 180 KMT. The following the global economic slowdown. The strong domestic shipments of 1.318 million MT surpassed the overall performance in 2008 was possible due to the 2007 shipments by 37% or 357 KMT and the export successful commissioning and stabilising of Qatar shipments of 565 KMT were lower than the 2007 figure Steel’s new DRI, RM and SMS plants. of 823 KMT by 31%. page 10 The strong overall performance in 2008 was possible due to the successful commissioning and stabilising of Qatar Steel’s new DRI, RM and SMS plants. Qatar Steel’s Consolidated Net Income in 2008 was QR 1020 million compared to QR 858 million in 2007 and the Net Cash Income was QR 1511 million against QR 933 million in 2007. H.E. Yousef Hussain Kamal Chairman The total DRI/HBI production in 2008 was 1.638 million exceptional progress that Qatar Steel has achieved over MT compared to 1.296 million MT achieved in 2007. the recent years is essentially driven by the stupendous The production of molten steel at the EF plants was growth of the Qatari economy under the leadership of 1.434 million MT against the budget of 1.383 million His Highness Sheikh Hamad Bin Khalifa Al-Thani, Emir MT and the 2007 actual production of 1.175 million of the State of Qatar and His Highness Sheikh Tamim MT. Billet production at the CC plant was also higher Bin Hamad Bin Khalifa Al-Thani, the Heir Apparent. at 1.405 million MT compared to the budget of 1.358 I would like to take this opportunity to express, on million MT and the 2007 actual production of 1.147 behalf of the Board of Directors and Management of million MT. Qatar Steel, our sincere gratitude, for their support and leadership. I conclude by thanking once again As the first signs of the global financial meltdown and the people of Qatar Steel for realising this marvelous the economic slowdown started appearing, Qatar success and I urge them all to respond proactively to Steel’s management quickly adopted all the necessary the challenges ahead and achieve even better results steps required for optimising operations and costs, with a view towards remaining competitive in the market in the coming year. and sailing through the difficult times ahead. Finally, I would like to thank Qatar Steel’s management and employees for their continuous dedication towards developing and improving the Company’s performance Yousef Hussain Kamal in all aspects. I would also like to emphasize that the Chairman page 11 We have great pleasure in presenting the fifth annual The year 2008 was significant as Qatar Steel celebrated report of Qatar Steel Company. The overall company the 30th anniversary of the commencement of its performance in 2008 was strong and creditworthy in commercial production. During the celebrations the spite of the recessional trend that arrived during the Company honoured its traders and employees who latter part of the year. The 2008 Consolidated Net contributed to its continuous growth and development Income of QR 1020 million was higher than the 2007 since its inception. This exemplifies our dominance in figure of QR 858 million. the region and, our business philosophy of building business through relationships and by recognising the While strong regional demand and prices in H1-2008 commitment and loyalty of our employees. resulted in an excellent financial performance, in H2-2008 the demand and prices of re-bars eroded 2008 Performance Highlights rapidly. The global financial crisis severely impacted Production and Sales the steel industry, both globally and in the region, and DRI/HBI production was 1.638 million tons in 2008 our management had to be prudent to swiftly adapt to compared to 1.296 million tons achieved in 2007. the changing business climate by aligning production The production of molten steel was 1.434 million tons to lower market demands, downsizing and all other against the actual production of 1.175 million tons in possible cost cutting measures. 2007. Billet production was also higher at 1.405 million page 12 Production of molten steel in 2008 was 1.434 million tons compared to the actual production of 1.175 million tons in 2007. Billet production was also higher at 1.405 million tons compared to the 2007 production of 1.147 million tons and steel bar production reached 1.150 million tons. The record output levels of our various production units in 2008 are a direct reflection of the strong demand our products are experiencing in this Sh. Nasser Bin Hamad Al-Thani region. Director & General Manager tons compared to the 2007 actual production of 1.147 United Stainless Steel Company (USCO), another million tons and steel bar production reached 1.150 joint venture project of Qatar Steel, will commence million tons. In addition, 102,000 tons of coils were commercial production of cold rolled stainless steel produced at Qatar Steel Dubai. The record output coils and sheets during the second half of 2009. levels of our various production units in 2008 are a During the year 2008, Gulf United Steel Company direct reflection of the strong demand our products are (Foulath) was established in Bahrain by the shareholders experiencing in this region. of GIIC and USCO by proportionately transferring all Total sales reached 1.884 million tons, of which rebars their shares in both the companies to Foulath. Three accounted for 1.632 million tons, billets accounted for new joint venture affiliates viz. United Steel Company 72,000 tons and DRI/HBI accounted for 180,000 tons. (Sulb) for an integrated steel project (DRI, Melt Shop Our domestic sales of 1.318 million tons surpassed and Rolling Mill), Foulath Egypt and Foulath Oman the 2007 performance by 37% due to the booming (Pelletization) were also established under Foulath. domestic demand. This consequently affected our Even though the Company has withdrawn from the export sales which stood at 565,000 tons, 31% lower El-Aouj Mining Project in Mauritania, it will continue to than the 2007 figure of 823,000 tons. explore indirect investment opportunities in potential Expansion Projects mining projects through Foulath Company. The new DRI/HBI Combo Plant and the SMS Plant were commissioned successfully, thereby completing Other Performance Highlights Phase I of the Expansion Project which included the Qatar Steel has been constantly building local new Bar Mill which was commissioned in 2007. This capabilities as part of its ‘Quality Qatarization’ plan phase was initiated in 2005 at a total project cost of with pronounced emphasis on upgrading skills through US$ 575 million. Upon completion of Phase 1, the total a wide range of training and education programmes production capacity of DRI reached 2.4 million TPA, at all levels.

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