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FINANCIAL NEWS
Emirates steel production to increase at 5-7pct in 2017
14 Dec 2016
(MENAFN) Emirates Steel production is projected to increase between 5 percent and 7 percent in the coming year.
Accordingly, the company is working with its whole output capacity, while its stake in the regional market reached 60 percent this year.
Furthermore, the firm’s performance topped the estimates in 2016 as a result for focusing on lowering administrative and operating costs along with growing the efficiency of production.
In addition, the demand on the steel in the UAE is predicted by 7mn tons, from which 3mn tons are being imported, while most of the imported are being re-exported.
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