Emirates Steel Company Forging Ahead

 

Emirates Steel’s recent award of a 1.74bn Dirham contract to Danieli Corporation is a clear indication of the company’s confidence in the resurgence of both The UAE and wider GCC construction markets. The new heavy section rolling mill will have a capacity of one million tonnes per year.

 

The requirement for rebar, (reinforcing steel bar), is increasing across the UAE where more and more projects are breaking ground in the wake of more affordable quality contracting on offer locally. The growth is also in line with Abu Dhabi’s expansion up until the year 2030 for which the project pipeline will need significant volumes of steel.

 

The expansion of the plant is also set to realise over 2,000 new jobs giving a further boost to the local economy. With the imminent reduction in high end contractors’ pricing and the local production of quality raw materials, the UAE is set to once again position itself as an attractive and cost effective location for future property development.