Get expert, on-the-ground insights into the latest business and economic trends in more than 30 high-growth global markets. Produced by a dedicated team of in-country analysts, our research provides the in-depth business intelligence you need to evaluate, enter and excel in these exciting markets.
Developing the Steel Industry for a Modern, Diversified Economy
Global Platform
In an interview with Global Platform, Saeed Al Remeithi, CEO of Emirates Steel, describes the growth and expansion of Abu Dhabi’s steel industry and its impact on the UAE’s economy.
We all know that a well-established steel industry in a country is a key indicator for a modern economy; it is actually a key indicator also for a healthy economy. The government of Abu Dhabi has decided to establish an integrated steel industry for several reasons. One of them is actually to support the development of the UAE through the boom of construction and infrastructure. Another reason is to really diversify the economy of the UAE.
We started with a small rolling mill back in 1998. The capacity was 500,000 tonnes per year, and today Emirates Steel is capable of producing 3.5m tonnes a year. Today we can see that the requirements of the markets are not only commodities, not only steel for construction. It requires more sophisticated and developed products. We succeed in actually producing nuclear-grade rebar that can be used in nuclear power plants that we supply to Baraka, and we are very proud of this because we are one of very few companies in the world that actually is capable of producing such products.
We are proud to really establish grades that can be used in offshore grades for oil and gas. We developed sheet piles that are used in isolation applications. In wire rods, we are in value-added grades, where our products can go in cable armouring, for example, or welding electrodes and many other applications.
Our products are used in massive projects, for example, Burj Khalifa; in Egypt, the Suez Canal; in the United States, there were so many projects. Back in 2006 we were well established in the UAE. In 2008 our presence was well recognised in the GCC region. In May 2013 we sold our first shipments to the United States and Mexico. Today our products are available in more than 30 countries around the world.
The main project we can talk about here is our project with ADNOC and Masdar and our CO2-capturing project, which of course starts from Emirates Steel, capturing the C02 and then we give it to Al Reyadah, which is going to inject it in the oil wells to boost up oil production, and at the same time reserve the natural gas for other uses.
The project is meant to capture up to 800,000 tonnes of C02 in a year, and this is like planting 100,000 trees or taking 170,000 cars off the streets.
It is a challenging time now, but I think it is a cycle. We have confidence in our leaders, and I think this is very important. Our leaders are always on top of things and always motivating us.
We have over 500 UAE nationals in the company, and more than 300 are engineers and technicians. We have young UAE nationals who are leading plans here. I have a couple of UAE nationals who are around 30 years old, and they are leading plants. They are having international records under their names, and I think no matter what the circumstances are, the future will be very bright for the UAE.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
