Jul 28 2010 |
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UAE emerging as the main hub for supply to MENA with base metal products
'New investments in the Gulf's pipes, tubes and steel industries to exceed AED 73 billion between now and 2020' - Satish Khanna, GM Al Fajer Information & Services, TeknoTube Arabia
The Gulf has the largest concentration of energy resources in the world with oil producing countries in the region estimated to have spent approximately AED 182.5 billion (US$50 billion) to increase their current oil field production capacities or to develop new discoveries by the year-end.
The UAE has advanced and modern logistics infrastructure coupled with a strategic location between five continents. "This is a winning formula for a base metals hub such as Dubai," says Mr. Satish Khanna, General Manager of Al Fajer Information & Services, organizers of Tekno/Tube Arabia 2011 trade exhibition, the only specialized and established event of its kind in the Middle East.
New investments in the Gulf's pipes, tubes and steel industries will exceed AED 73 billion ($20 billion) between now and 2020 according to Tekno/Tube 2011, the international trade fair for industrial machinery, metalworking, and machine tools.
In addition, he said the machinery and mechanical equipment zone in Dubai constitute an important market for metal products forming a true economic sector. Not to mention that the latest discovery of a major oil field in Dubai shores is an added boost to the Emirate's economy and trade.
Reinforcing the role of the UAE as a hub is the development of Dubai Industrial City, a massive manufacturing and industrial complex which covers 560 million sq ft of prime land.
Khanna added: "The global demand for energy, infrastructure development, construction projects, water and air conditioning supply and automobiles - the key sectors that drive the tube and pipe industry - will continue to grow in the coming years."
With its easy access to global scientific talent, world class logistics and supply chain management capabilities, Dubai is set to become a leader in the highly engineered machinery and mechanical products.
-Ends-
© Press Release 2010
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