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Kuwait : KUWAIT's GLOBAL INVESTMENT HOUSE plans to sell Al Jazeera Steel stake

August 25, 2014

Kuwait based Global Investment House is said to be in plans to sell its 51% stake in Oman s Al Jazeera Steel Products.

In the past five years, the bank has restructured its USD 1.7 billion of debt twice, and held discussions with regional investment firms interested in the business.

Based near Sohar, Al Jazeera Steel, deals in production of steel tubes and structural products and exports to around 25 countries.

Last year, the firm reported a profit of OMR 4.6 million, up 33% from the previous year.

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Source: TendersInfo (India)

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