|
| Background |
Emirates Steel IndustriesEmirates Steel Industries (ESIESI) plans to develop an Integrated Steel Complex in Mussafah, ICAD I.
The plant location was originally planned in Taweelah, however the company decided to move the facility to a location closer to its main production complex at Mussafah.
This project is Phase three of ADBICADBIC's plan to expand its steel rolling operations in UAE to reach a capacity of 6.5 million tons over a period of 5 years. Phase I and II consists of two integrated steel complexes.
The complex will produce flat steel products which will be used as raw materials for the development of different industries such as boilers, car parts, and piping. |
| Expected Events |
| Schedule |
Contract Phase/Phase |
Description |
| Q2 2012 |
EPC | Contract expected to be awarded
|
| Q3 2014 |
Completion | Project expected to be completed
|
|
| Latest Events |
In March 2012, bids for the technology license and EPC contracts were under evaluation.
In Q2 2012, the technology license and the EPC contracts are expected to be awarded.
In mid 2014, the project is expected to be completed. |
| Previous Events |
In October 2011, bidders submitted their proposals for the technology license and the EPC contracts. The bids were submitted jointly by technology providers and EPC contractors. SMS Meer and Petrofac were the only joint bidders whose names were disclosed.
In September 2011, SMS Meer announced that it formed a partnership with an EPC contractor Petrofac to jointly bid for the technology license and the EPC contracts.
On 28 July 2011, the ITB for the EPC contract was issued. ESIESI invited technology providers who would select an EPC contractor to jointly bid for the project. The technology providers include: Danieli, Mitsuibishi, Siemens Vai, SMS Meer, Steel Plantech and Tenova.
In July 2011, ESIESI decided to build the complex alongside its existing steel production facilities at Mussafah.
In February 2011, the negotiations regarding the location of the project were not finalized yet. The company was focusing on implementing phase II of the project.
In November 2010, ESIESI was in negotiations with ZonesCorp regarding land allocation for the project at Abu Dhabi Industrial City in Mussafah instead of Taweelah. However, no deal was finalized yet.
In June 2010, ESIESI was in negotiations with several prospective bidders including Danieli, SMS Group, and Siemens. ESIESI would change the location of the project to an undecided site closer to its main production complex at Mussafah.
In April 2009, the feasibility study was ongoing.
In Q1 2009, ESIESI was undertaking a feasibility study and assessing the market conditions for the coming years. |
| Scope of Work |
Construction of an integrated steel complex including:
- 1.6 million t/y DRI plant
- 1.4 million t/y meltshop for slab casting
- 1.2 million t/y rolling mill for plate and coil production |
| Financing Source |
BNP ParibasBNP Paribas is the financial adviser.
In January 2012, BNP ParibasBNP Paribas was appointed as the financial adviser.
In September 2011, ESIESI sent out information packages to banks for the financial adviser deal, putting the value of the project between USD 800 million and USD 1 billion.
In the end of July 2011, banks submitted their proposals for the financial advisory agreement. These banks include: HSBCHSBC and Royal Bank of ScotlandRoyal Bank of Scotland, BNP ParibasBNP Paribas and NatixisNatixis, Deutsche BankDeutsche Bank, and the National Bank of Abu DhabiNational Bank of Abu Dhabi.
In Q1 2011, ESIESI issued the RFPs for the financial advisory agreement. |
| Contract Packages |
|
| Project News |
|
|
| Schedule | Contract Phase/Phase | Description |
| Jun 2010 |
Planning | Site location of the project under revision
|
| Jul 2011 |
Planning | ESIESI decided the location of the project at Mussafah
|
| 28 Jul 2011 |
EPC | ITB issued
|
| Oct 2011 |
EPC | Bidders submitted their proposals for the technology license and the EPC contracts
|
| Q2 2012 |
EPC | Contract expected to be awarded
|
| Q3 2014 |
Completion | Project expected to be completed
|
|
Contract Project
Package Project
Talk To Zawya Analyst
Download to PDF