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Dana Steel is to develop a 50,000-square-metre a hot and cold rolling steel complex in Abu Dhabi under an agreement with Khalifa Economic Zones Abu Dhabi (KEZAD Group).
The new facility, which will have a capacity of 500,000 metric tonnes, aims to replace imported raw materials, such as cold rolled full hard coils, with “Made in UAE” supply.
KEZAD Group said the move is in support of the Abu Dhabi Industrial Strategy, which aims to double the size of the emirate’s manufacturing sector to AED172 billion ($46.8 billion) by 2031.
“With worldwide demand for quality steel products set to grow, we are quite excited to start this milestone project in KEZAD, which builds upon our efforts to enhance value for our customers across continents,” Ankur Dana, CEO of Dana Steel Industry, said.
Dana said the project will be the company’s ninth industrial facility within the UAE and its first in Abu Dhabi.
In addition to metal product building and manufacturing, the plant will also have capabilities to recover and recycle waste acid.
(Reporting by Imogen Lillywhite; editing by Cleofe Maceda)
