Abu Dhabi, UAE: Emirates Steel, the leading integrated steel plant in the Middle East, has sealed a memorandum of understanding (MOU) with Mauritania’s Société Nationale Industrielle Et Minière (SNIM) to look into the feasibility of creating a joint venture company to produce iron oxide pellets.
Under the 18-month agreement, signed by Engineer Saeed Ghumran Al Remeithi, Group CEO of Arkan and CEO of Emirates Steel, and Mohamed Vall Ould Telmidy, CEO of SNIM, the companies will study joint plans to produce iron oxide pellets, the primary feedstock required for Direct Reduction steel plants.
Engineer Saeed Ghumran Al Remeithi, Group CEO of Arkan and CEO of Emirates Steel said: “The collaboration with SNIM is aligned with the goals of the UAE’s Industrial Strategy to enhance self-sufficiency. Increasing the production of quality metals and materials will support national industries and foster a vibrant export hub that will further strengthen our presence in the 50 countries around the world that import Emirate Steel products. By investing in the production of this essential raw material, we are also securing a steady supply of feedstock that will shield us against global raw material market volatility and fuel our ambitious growth plans to expand our product range to include flat steel.”
Mohamed Vall Ould Telmidy, CEO of SNIM, commented: “The groundbreaking MOU with Emirates Steel will help pave the way for significant investments that will be mutually beneficial and which will support the overall industry and local communities in the UAE and Mauritania. Iron pelletising projects in the Middle East and North Africa will accelerate the development of the regional steel industry and enhance its competitiveness regionally and globally. At 1.5 billion tonnes, Mauritania has the largest iron reserves in the Arab world and Africa and we are very keen to establish strategic partnerships that allow us to take advantage of our mineral wealth in the most optimal manner.”
About Emirates Steel
Emirates Steel is a leading integrated steel manufacturer in the Middle East region, based in the UAE capital, Abu Dhabi. Emirates Steel is part of Arkan Building Materials and is listed on the Abu Dhabi Securities Exchange (ADX) under the symbol 'ARKAN'. Established in 1998, Emirates Steel boasts leverages cutting-edge rolling mill technology, and supplies the domestic and international markets with high quality finished products including wire rods, rebars, heavy sections and sheet piles.
Emirates Steel is the largest producer of heavy and jumbo sections, and the only producer of hot rolled sheet piles in the region. The company is the fourth steelmaker in the world to receive the ASME accreditation to produce nuclear grade rebar. Moreover, Emirates Steel is the first steelmaker in the world to capture its CO2 emissions, and the first manufacturing company in the Middle East and among the first 50 companies in the world to be verified for (LEED) green building system documentation. The company plays an enabling role in building the UAE’s future and contributes to achieving. the Abu Dhabi Economic Vision 2030 and UAE Centennial 2071 through its delivery of market-leading products to local industries and provision of career opportunities for talented UAE nationals.
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