CEO of Emirates Steel calls for fundamental shift in GCC steel industry  

The inaugural conference offers delegates an opportunity to discuss the status of the regional steel and iron market in both Saudi and the wider GCC

  
CEO of Emirates Steel calls for fundamental shift in GCC steel industry nbsp;
  • Emirates Steel is the Rhodium sponsor of the conference, being held in Riyadh between 16 – 18 September 2019

Riyadh, Saudi Arabia: The CEO of Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (SENAAT), has addressed delegates assembled for the first Saudi International Iron and Steel Conference, which is being held in Riyadh, Saudi Arabia. Eng. Saeed Ghumran Al Remeithi, CEO of Emirates Steel, participated in the conference 2nd session titled “Middle East and North Africa Steel Outlook” during which he spoke of the importance of the GCC market to the global steel industry, alongside discussing the sector’s ongoing challenges and opportunities.

The conference, which is held from 16 – 18 September 2019, brings together professionals from across the GCC to discuss the status of the current regional steel market. Emirates Steel is a Rhodium sponsor of the conference, highlighting its commitment to providing opportunities for the steel and iron industry of the GCC to discuss and share updates. The conference focuses on the current outlook for the regional iron and steel market, the status of the global industry in the context of tariffs, alongside discussing opportunities in construction and engineering.

Eng. Saeed Ghumran Al Remeithi, CEO of Emirates Steel, said: “The GCC steel producers should shift their focus towards the manufacturing industry as the manufacturing base will continue to grow in the coming years. This means that the current situation where the GCC steel industry is focused on the construction sector should be changed. We need to create further opportunities for downstream manufacturing industries in order to stimulate steel’s demand in the region.  We believe that GCC governments have put the infrastructure in place, both in terms of industrial zones and transport investment and also regulations, to support downstream manufacturing industries.”

Continuing, Al Remeithi said: “GCC Steel producers have to focus on improving the supply chain process, reduce operation costs, improve customer’s service in order to be efficient producers and overcome the market challenges which includes the global protectionism, surge of raw material prices, sluggish demand and drop in selling prices. It is within this context that it is so important that we discuss with colleagues in the iron and steel sector opportunities to mitigate the damage from these potent challenges.”

“At Emirates Steel we have introduced key innovations in our production capabilities, allowing us to produce steel more efficiently and recycle waste by-products effectively. During this first Saudi International Iron and Steel Conference, I look forward to discussing with partners in the regional steel market the importance of such innovation and how to best implement new technologies,” concluded Al Remeithi.

Emirates Steel is exhibiting its unique range of products to conference attendees who are gathered from across the GCC, speaking to customers and suppliers regarding their requirements, alongside discussing with industry partners the current status of the regional sector, and sharing best practices in production, safety, and sustainability.

-Ends-

About Emirates Steel

Emirates Steel is owned by SENAAT, the UAE’s largest industrial conglomerate and a driving force for implementing the Abu Dhabi government’s industrial diversification policy. Strategically located in the Industrial City of Abu Dhabi, some 35 kilometers away from the heart of the city of Abu Dhabi, Emirates Steel is the only integrated steel plant in the UAE, utilizing the latest rolling mill technology to produce rebar, wire rod and heavy sections.

Established in 1998, Emirates Steel grew in a relatively short period of time from a simple re-roller of imported steel billets to a complex integrated manufacturing plant, using modern solutions to tackle traditional industrial problems to generate value for its various stakeholders. In 2012, the Company began producing at a capacity of 3.5 million MTPA, following two expansions and the investment of around AED 11 billion (US$ 3 billion).

Emirates Steel’s underlying business goal is to be an efficient and competitive producer of finished steel products. To achieve this, the Company continually and significantly invests in expansions in the areas of processing, manufacturing and information technology. In addition, these investments help to improve product and service quality, reduce the Company’s environmental footprint and increase safety for workers and customers.

Media contact:
Matt Wickens
Account executive
Four MENA
+971 52 893 2016
EmiratesSteel@fourcommunications.com 

© Press Release 2019

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