February 5, 2013 / 1:25 PM / in 5 years

Qatar Steel awards Siemens $38 mln contract to build substation

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

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