- The Company unveils new identity and logo to match new path of excellence
- Production capacity goes up to 3.5 million tons per annum
- Al Nowais: GHC supports growth of industrial sector in Abu Dhabi
Emirates Steel, the only integrated steel plant in the UAE, inaugurated the completion of its AED 6 billion (US$ 1.9 billion) Phase 2 expansion program in an event staged yesterday on facility grounds in the Industrial City of Abu Dhabi (ICAD1). 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 HE Hussain J. Al Nowais, GHC Chairman, Phase 2 has increased Emirates Steel’s total production capacity to 3.5 million metric tons 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, AED 10 billion (US$ 2.72 billion) expansion program in January 2006, completing Phase 1 in June 2009 at a cost of AED 3 billion (US$ 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.
Al Nowais applauded the efforts exerted by the work team that managed the expansion project, saying that developments continued to be made ahead of schedule and to the highest degree of standard in order to ensure that the best international practices were upheld throughout the roll-out of the expansion plan.
He noted that the meteoric rise of the Company has always been in line with the Abu Dhabi Economic Vision 2030 – which maps out the government’s long-term plans for the diversification and development of the emirate’s economy.
“Each studied step has been made to ensure that we grow in parallel to the sustainable economy of Abu Dhabi, making provisions for global competitors within the emirate’s borders. As such our ambitions run far and wide to become the leader in our area of expertise and in turn reduce reliance on the world for imports.”
HE 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.”
Emirates Steel is also the leading producer of reinforcing bars (rebar), and is recognized as one of the foremost wire rod producers in the GCC. Besides the Company’s finished rebar, wire rod and sections; Emirates Steel also has the capacity to produce and sell Direct Reduced Iron as a semi-finished product.
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 and this figure is predicted to increase to 8.6 million MTPA in 2020. “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.