The Foulath consortium, which includes Industries Qatar's steel unit and National Industries Group, is in talks to finance a $1.4bn steel plant in Bahrain, Bahrain Tribune has reported. According to Khaled Al Qadeeri, head of manufacturing at co-investor Gulf Investment Corp, Foulath is partnering a subsidiary of Japan's Yamato Kogyo Co 5444.T to build the plant and expects to close financing by the end of the year despite turmoil on global financial markets.