Corus reviewing Mideast growth plans

UNCERTAIN TIMES: Corus is reviewing its regional growth plans due to the global economic slowdown. (Getty Images)

Corus International, the world’s fifth biggest steel producer, is reviewing growth plans in the Middle East in the wake of the global economic slowdown, a senior executive told Arabian Business on Sunday.

“We had a very optimistic growth plan until this recent economic situation and we are now reviewing it,” Hayder Ibrahim, general manager for business development, technical and marketing at Corus Middle East, said on the sidelines of a conference in Dubai.

“The outlook is a little bit uncertain, although the fundamentals in this region are very strong and I don’s see any change in the fundamentals.”

“There are still contracts running and we expect other mega-projects in the residential and hotel sectors in Dubai anytime soon."

Ibrahim said Corus last week signed a contract to supply 26,000 square metres of steel decking for the Ferrari Theme Park in Abu Dhabi and, among other orders, was also supplying steel cladding for a power station in Fujairah.

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