ME metals industry’s challenges discussed
Dr. Matar Al-neyadi, the Undersecretary of the UAE Ministry of Energy and Industry, inaugurated the Middle East Iron and Steel Conference 2019 which is being held in Dubai, with the participation of Emirates Steel as the Platinum Sponsor. He also delivered the keynote speech in which he spoke about the role and importance of the iron and steel sector in urban and economic development.
The conference, held from December 9 - 11, brings professionals from the Middle East metals industry together from the GCC to discuss current trends, challenges and opportunities within the regional and global steel markets. Emirates Steel is a Platinum sponsor of the conference, demonstrating its commitment to the promotion of industry collaboration and knowledge sharing.
Middle East Iron and Steel Conference sees steel sector as a vital part and major contributor to UAE’S economic diversification agenda
Addressing the conference, Dr. Matar said: “Heavy industry, including the steel sector, is a vital component and contributor to the UAE’S economic diversification agenda and to our nation’s transition to a knowledge based economy. The sector has matured since its foundation decades ago, and today the Ministry of Energy and Industry is working closely with the steel sector to harness the potential of the 4th Industrial Revolution and stimulate downstream industries.”
“There is no doubt that coordinated actions are needed to address the current market challenges, however, looking further ahead, regional investments in hospitality, healthcare, education and infrastructure are likely to continue on an ever-growing scale. From Expo 2020 to numerous other mega-projects within the region, opportunities exist for companies able to offer unique products, services and solutions that enhance sustainability and incorporate 4IR technologies and innovations,” he added.
Eng. Saeed Ghumran Al Remeithi, CEO of Emirates Steel, commented on the conference: “This is an important convention for us to attend, given that we are at a currently febrile moment in the global and regional steel markets. Internationally, we have seen the implementation, and now entrenchment, of national protectionist trade policies, which impact iron and steel manufacturers’ capability to share product with their customers and identify markets with capacity for their product.”
Continuing, Al Remeithi said: “Further, we are seeing slow-down in certain sectors and industries which are impacting companies’ demand for product. The current Chinese real estate sector slow-down and a deceleration of global automotive production are areas of concern for steel manufacturers. However, there are areas of as yet unfulfilled demand, most notably in South East Asia, with a range of real estate and construction projects coming online in the near future.”
“In the Middle East, we are witnessing a varied and unfolding situation. The GCC construction sector continues to offer strong opportunities for growth for the steel sector, with Expo 2020 in the UAE; Al Qiddiya, the Red Sea Project, and the NEOM project in Saudi Arabia; and the King Hamad Causeway Project in Bahrain, all producing rich opportunities for growth in the metals sector. However, as other major infrastructure projects are coming to completion, demand is expected to drop,” added Eng. Al Remeithi.
“The steel sector is typically understood as a bell-weather industry for understanding the operation of wider macro-economies, and in a context of apprehension of a global economic recession, it is interesting to meet with colleagues from the metals sector to discuss how they are finding business. I look forward to discussing with delegates their current attitudes on the global steel sector,” Eng. Al Remeithi concluded.
Emirates Steel will be exhibiting its unique range of products and services at the conference, alongside sharing best practices in production, safety and sustainability with delegates and customers. Also participating from Emirates Steel in the conference will be Hassan Shashaa, Chief Operating Officer of Emirates Steel and Anna Petrachkova, Health and Safety Manager, who will be showcasing how Emirates Steel is seeking to change the nature of workplace health and safety.
Emirates Steel is owned by SENAAT, the UAE’S largest industrial conglomerate and a driving force for implementing the Abu Dhabi government’s industrial diversification policy. Strategically located in the Industrial City of Abu Dhabi, some 35 kilometers away from the heart of the city of Abu Dhabi, Emirates Steel is the only integrated steel plant in the UAE, utilizing the latest rolling mill technology to produce rebar, wire rod and heavy sections.
It may be mentioned that the Emirates Steel, established in 1998, has grown in a relatively short period of time from a simple re-roller of imported steel billets to a complex integrated manufacturing plant, using modern solutions to tackle traditional industrial problems to generate value for its various stakeholders. In 2012, the company began producing at a capacity of 3.5 million MTPA, following two expansions and the investment of around Dhs11 billion ($3 billion).
Emirates Steel’s underlying business goal is to be an efficient and competitive producer of finished steel products. To achieve this, the Company continually and significantly invests in expansions in the areas of processing, manufacturing and information technology. In addition, these investments help to improve product and service quality, reduce the Company’s environmental footprint and increase safety for workers and customers.