Despite a 6% YoY decrease in average steel prices, the UAE manufacturer reports $600mn in revenue; Finished goods steel sales volumes rise 21%
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Abu Dhabi
EMSTEEL plans to significantly reduce greenhouse gas emissions by 2030
The company’s Decarbonisation Strategy aims to reduce GHG by 40% from its steel business and 30% from its cement units
bahrain steel
Qatar and Bahrain announce $1.3bn steel deal
Qatar Steel and Bahrain Steel announced the signing of an agreement worth $1.266bn
Abu Dhabi
Pipetec Solutions to invest AED 100mn in new steel pipe bending facility in KEZAD
The company signed a 50-year land lease agreement with the zone developer
India
India’s JSW Group teams up with South Korea’s Posco for major steel plant investment
The MoU was signed at JSW’s headquarters in Mumbai
Hamriyah Free Zone
Sharjah-based Trend Industries to expand production capacity with a new facility at Hamriyah Free Zone
The company also plans to foray into new sectors such as automobiles and oil and gas industry, besides the existing construction and manufacturing industries
J.O. Steel Holdings PLC
UK steel company secures $865 million to build manufacturing plant in Saudi Arabia
The funds will be used to establish an integrated manufacturing plant within Ras Al-Khair Industrial City in the Kingdom, which is said to produce approximately 1.8 million tons of steel billets
3D printing
First Saudi bus manufacturing hub planned as Dussur inks JV deals
Saudi Arabian Industrial Investments Company announces four new joint ventures and a global acquisition
Ain Al Sokhna
Egyptian Steel Group: Providing comprehensive solutions for existing and new investments
Brand View: Under the holding company are three well-established companies – National Port Said Steel (NPSS), IIC for Steel Plants Management and Egyptian Steel for Building Materials Trading
ArcelorMittal
Saudi wealth fund said to mull $300m rescue plan for steel factory
Sources say Public Investment Fund is looking at doubling its stake in ArcelorMittal Tubular Products Jubail to 40%
Al Ain Al Sokhna
Egyptian Steel launches its fourth steel plant in Al-Ain Al-Sokhna
Brand View: Under the leadership of its CEO, Ahmed Abou Hashima, Egyptian Steel has grown to acquire 20% of the steel market in Egypt in a mere 8 years.