FINANCIAL NEWS

Jafza’s steel companies grow 20 percent in 2013

28 Nov 2014

(MENAFN) The steel industry in Jebel Ali Free Zone, Jafzasaid it has recorded a growth by 20 percent in 2013, surpassing the rate of industry growth in the UAE as a whole, Gulf News reported.

Jafza attributed the growth as a result of the rapid economic development in the region and fast moving construction in the real estate and infrastructure projects in Dubai and other parts of the UAE.

“Expo 2020 is going to provide a further boost to the construction sector in general and steel industry in particular, across the region. Jafza accounts for almost 40% of the steel produced in the country, therefore, the growth in the sector reflects the economic resurgence in the region,” Deputy CEO of Jafza and Chief Commercial Officer of Economic Zones World, EZW said.

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