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FINANCIAL NEWS
UAE becomes region’s 3rd largest steel producer
13 Jan 2015
(MENAFN) According to the World Steel Association, the UAE has become the region’s third largest producer of steel, after the country produced 2.1 million tons of crude steel during the January-November period of 2014, Khaleej Times reported.
The figures were revealed at the Metal Middle East, Tube Arabia, and Arabia Essen Welding and Cutting (AEWC), the region’s trio of exhibitions for metal, pipes and welding industries, which also generated multi-million dollar deals in sale of machineries.
‘We are not surprised with the response in three days. Tubes and metal industries are witnessing accelerated growth, driven by several factors, especially expansion and development of oil and gas operations, infrastructure projects, urban areas and populations. This usually brings benefit to all the allied sectors,’ GM of Al Fajer Information and Services, co-organizers of the three mega shows along with the two German giants Messe D’sseldorf and Messe Essen, said.
The increase in steel production in the UAE is the result of it being one of the most common materials in the world, with companies relying on it for housing, transport, food and water supply, energy production, tools and healthcare.
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