Arab Today, arab today emirates steel inaugurates dhs7 billion expansion
Last Updated : GMT 19:59:49
Arab Today, arab today
Arab Today, arab today

Emirates Steel inaugurates Dhs7 billion expansion

Arab Today, arab today

Arab Today, arab today Emirates Steel inaugurates Dhs7 billion expansion

Abu Dhabi - Arabstoday

Emirates Steel, the only integrated steel plant in the UAE, inaugurated the completion of its Dhs7 billion ($1.9 billion) Phase 2 expansion programme in an event on facility grounds in the Industrial City of Abu Dhabi (ICAD). The expansion demonstrates the high level of support that General Holding Corporation (GHC), parent company of Emirates Steel, lends to the industrial sector in Abu Dhabi. According to Hussain J Al Nowais, GHC Chairman, Phase 2 has increased Emirates Steel’s total production capacity to 3.5 million metric tonnes per annum (MTPA). He relayed to reporters at a press conference that the development is part of the massive endeavor that is set to increase Emirates Steel’s production to around 5.5 million MTPA within the next three years. Emirates Steel launched the two-phased, Dhs10 billion expansion programme in January 2006, completing Phase 1 in June 2009 at a cost of Dhs3 billion ($816 million), more than doubling production capacity and making it the largest steel plant in the UAE, capable of manufacturing raw steel from iron oxide pellets. Al Nowais said that Emirates Steel will soon become one of the largest steel complexes of its kind in the region. The objective, he added, was to satisfy local and regional demand for steel. He stressed that GHC will bolster its efforts to promote the industrial sector in Abu Dhabi by setting up special industrial units capable of adopting the latest technologies and offering qualified UAE nationals work opportunities. Engineer Suhail Mubarak Athaeeth Al Ameri, Emirates Steel Chairman and CEO of GHC, commented, “Having secured quality system certification to British standards, Emirates Steel is a quality certified steel producer, which has demonstrated a track record of sound operating performance. This legacy lives on into the Company’s future.” Al Ameri said that the steel industry has seen staggering growth in light of the quickening pace of Abu Dhabi’s development and construction. “Steel production has been invaluable to the emirate’s progress, not only in supporting rapid construction but in accelerating the growth of non-oil based gross domestic product, which further serves economic diversity.” He pointed out that demand for heavy sections in the Mena region continues to skyrocket, currently translating to 5.5 million MTPA. “Phase 2 has elevated our stature in the industry for being able to provide a more cost-effective, flexible and sustainable solution to concrete, which has proved invaluable to local and regional markets,” said Al Ameri. From gulftoday

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