What are Emirates Steel’s major accomplishments?
The growth of the UAE’S capital, Abu Dhabi, as an industrial and investment destination, in addition to being a global energy hub has had enormous positive effects in the local, regional and national economy and made it a destination for dynamic business. UAE and Abu Dhabi has become a favourable option for investments, due to endless investment opportunities, lucrative incentives and free zones located throughout the country that caters for global investors’ needs including industrial investments. In the UAE, the steel industry plays a crucial role in the country’s development and economic diversification plans, and investing in heavy industries such as steel sector is essential for catalysing and facilitating developments of smaller downstream industry segments to fulfill the government’s ambitions to develop a healthy industrial sector as outlined by the government’s long-term blueprint for the emirate: Abu Dhabi Economic Vision 2030, and increase the GDP contribution of the industrial sector to 25 percent by 2030. Our role is crucial in achieving this target.
As we all know, steel industry is an essential element for all industrialisation and urbanisation efforts and is considered one of the key indicators for any healthy economy. Emirates Steel plays a vital role in contributing to this strategic vision and to the country’s progress and its industrial infrastructure, creating further opportunities for downstream manufacturing industries and providing for the increased demand for steel products in the region, which results in increasing revenue sources of non-oil commodities while creating additional employment opportunities within the industrial and associated services sectors.
The company is the largest integrated steelmaker in the UAE, with a capital investment of approximately AED 11 billion; we contribute to the national vision of economic diversification and industrial development through creating further opportunities for downstream manufacturing industries and investments which are expected to provide further chances for growth, supporting the government’s ongoing plans to broaden the emirate’s economic base.
What are the ongoing and upcoming projects of Emirates Steel?
Emirates Steel is well positioned geographically and strategically, to be the region’s major supplier to steel intensive construction, oil & gas, petrochemical and infrastructure projects. We have earned approvals from leading oil and gas companies in the region and worldwide, and successfully supplied over 200,000 tons of high quality structural steel, whereby our client portfolio includes some of the most known names within the oil and gas arena, such as excellence centers in the GCC, India, USA, national and international oil and gas companies, oilfield service providers, energy sector and related companies across the region. Some of the iconic projects the company is involved in include: Abu Dhabi International Airport Expansion, Emirates Nuclear Energy Corporation (ENEC), Al Saadiyat Island Projects, Burj Khalifa, the Palm Dubai, Dubai Marina, Emirates Palace Hotel among others.
What are the business models adapted by Emirates Steel to cope with the current slowdown in the global steel industry and the growing inflow of Chinese goods in the MENA market?
Steel will remain one of the most important resources in the world; modern economies rely on it in all aspects of life as everything around us is either made of steel or manufactured by equipment made of steel. Emirates Steel has a wide range of quality products that cater for different sectors of the market, and has established strong brand name within a few years since its inception. Currently, the company is an expert in providing the highest standards of steel applications, innovation, and commitment to quality following the highest standards of customer service and environment sustainability. At Emirates Steel we provide customised steel solutions required by different industries. Moreover, Emirates Steel operates within strategic partnerships that increase benefits, and boost contribution to the industrial infrastructure and economic developments in the country and region. Emirates Steel has a wide range of products that cater for different sectors of the market, and as we constantly strive to serve the market with solutions we always put our focus on quality in whatever we do.
We are keen to know about the company’s green initiatives, with reference to its economic life cycle model.
Being a driving force behind industrial growth in Abu Dhabi and the region, Emirates Steel is firmly driven by its important role as a contributor to the development of sustainable heavy industrial sector while considering the environment. To achieve this, the company addressed these issues in the early stages of the design process of its expansion projects. Emirates Steel follows a strategic approach to minimise the effects of its industrial activities in different stages of its operations process on the environment, and is committed to adopting the latest innovations in energy efficiency and sustainable practices.
The company has implemented different eco-friendly initiatives and projects, including its energy conservation initiatives by selecting low impurities raw materials and Ferroalloys that save energy consumption; its pollution prevention efforts through fume treatment to promote a clean and healthy working environment in compliance with environmental federal law and international standards; and its contribution to the ambitious CCS project that utilise the CO2 generated during the iron reduction process at DRP plants.
H.E. Saeed Ghumran Al Remeithi is a UAE national and holds a B.S. in Electrical Engineering from California State University. He has over 15 years of experience in the steel industry. He has been with Emirates Steel since its inception, having commenced his career as Production Engineer in Operations and progressing through the ranks to become the Senior Vice President Operations. In July 2011, he was appointed as Chief Executive Officer to head the company into its next phase of business development and to solidify Emirates Steel position as an integral part of Abu Dhabi 2030 vision.