DOHA, Feb 5 (Reuters) - Siemens has been awarded a $38 million contract by Qatar Steel to build a high-voltage substation at Qatar’s industrial city of Mesaieed, the German engineering conglomerate said on Tuesday.
The 220/66/33-kilovolt substation will replace an existing facility within 14 months, ensuring a more reliable power supply to Qatar Steel’s complex, Siemens said.
Qatar Steel, a subsidiary of Industries Qatar, launched a $5.7 billion aluminium plant in December 2009, and currently has foreign investments in Bahrain, Saudi Arabia and the UAE.
Last year Qatar bought a 2.4 billion euro ($3.1 billion) stake in Siemens, Germany’s second most valuable company, adding to the natural gas-rich country’s portfolio of minority investments around the world.
$1 = 0.7301 euros Reporting by Regan Doherty, Editing by Mark Potter