Arab Today, arab today emirates steel inks iron ore supply contract
Last Updated : GMT 21:56:28
Arab Today, arab today
Arab Today, arab today

Emirates Steel inks iron ore supply contract

Arab Today, arab today

Arab Today, arab today Emirates Steel inks iron ore supply contract

Abu Dhabi - Arabstoday

Emirates Steel Industries, a subsidiary of Abu Dhabi Basic Industries Corporation (Adbic), said it has signed a sales contract with Sweden’s LKAB to source quality iron ore pellets beginning 2013. LKAB is an international high-tech minerals group that produces iron ore products for the steel industry and mineral products for other industries and applications. Highlighting the importance of the agreement, Hussein J Al Nowais, the chairman of Senaat, the holding company of Emirates Steel, said it aims to complement the company’s efforts to enhance the value of its steel products by sourcing high quality raw materials with international standards. He recognized the expertise and high regard in the market for LKAB. Al Nowais, who is also the chairman of Emirates Steel, confirmed that the company will continue to elevate its investment plans to accommodate the increasing demand for steel in local and regional markets. Commenting on the Swedish agreement, he said, \"Emirates Steel will further grow its competitive advantages by increasing its focus on quality and raising the standards of products to higher levels as LKAB becomes one of the partners contributing to the company’s development plans.\" The Senaat chairman, along with other board members and senior management officials from both parties, witnessed the contract signing by Emirates Steel CEO Saeed Ghumran Al Romaithi and LKAB chief executive offiicer Lars-Eric Aaro. Al Romaithi pointed out that the long-term strategic relationship positions the Swedish firm as one of Emirates Steel’s primary suppliers of iron ore pellets. Emirates Steel, the largest integrated steelmaker in the UAE, has pellets requirements this year of around 4.8 million tons. These are supplied through long-term agreements which now include LKAB. The new agreement, he stated, will strengthen Emirates Steel\'s supply in support of its future growth plans. In 2012, Emirates Steel began for the first time producing at a capacity of 3.5 million (metric tons) MT, following two expansions at an investment of Dh10 billion ($2.72 billion). The other planned projects in the future are expected to boost the company’s output of finished products to more than 5.5 million MT, he added. Al Romaithi said the new supply highlights the company\'s confidence about the long-term prospects for the steel industry in the Mena region. \"The long-term contract helps us secure the supply of our primary feed material. Pellets are a primary raw material for Emirates Steel to produce high quality direct reduced iron (DRI),\" he stated. On the UAE partnership, Aaro said the agreement was a confirmation that its Swedish products were attractive in the market. \"Emirates Steel plays a significant role in the UAE’s steel making industry and we are absolutely delighted to be able to support its future development by guaranteeing a stable and predictable supply of iron ore,\" said the Swedish group chief. LKAB boasts of about 4000 employees in 14 countries and accounts for 10 per cent of Sweden’s industrial investments. TradeArabia News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates steel inks iron ore supply contract Arab Today, arab today emirates steel inks iron ore supply contract

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday