Abu Dhabi, United Arab Emirates, 28 September 2014 – Emirates Steel, the only integrated steel manufacturer in the UAE and one of the major exhibitors at The Big 5 Construct India 2014, concluded its participation at the show on a high note, attracting the attention of public and official visitors, including major Indian firms with interests in nuclear energy, oil & gas, construction, infrastructure and other sectors of the rapidly-growing Indian economy. The Company showcased its product range including rebar, wire rod and heavy sections.
“This is the second time we participate in Construct India,” said Engineer Ahmed S Al Dhaheri, Chief Commercial Officer at Emirates Steel. “This exhibition was an important event as it offered us the opportunity to meet the largest private and public sector companies in India and to showcase all our range of products for visitors to view,” he added.
As part of its ongoing partnerships with large Indian entities, Emirates Steel is currently servicing a large order to Reliance for their J3 refineries project in Jamnagar, Gujarat. Reliance, one of the largest independent industrial conglomerates in India with a turnover in excess of $68 billion, is expanding its refining and petrochemical facilities. According to the latest new reports from India, the country recently launched its 100 smart cities project, which will accommodate around 100 million citizens once complete. “The Indian market is a strategic market for us and we will focus on strengthening our presence and supporting their growth plans,” pointed out Al Dhaheri. “And with the accreditation of BIS to our products, supplies to India are poised to increase. Hence, we expect to compliment locally produced section products with our niche jumbo beams,” he stressed.
The latest statistics from India show that the construction industry is a major contributor to India’s GDP and one of the largest employment generators, currently employing around 33 million people. Current spend in the construction industry is well in excess of $150 billion and this is expected to increase significantly with the announcement of the 100 smart cities project. While the Indian economy grew by 5% in 2013 as compared to 6.2% in 2012, the construction industry grew by 5.9% in 2013 against 5.6% in 2012. Analysts believe that India is poised to emerge as the world’s 3rd largest construction market by 2020.
“We are looking at establishing strategic alliances with leading companies in India and we believe we have the state-of-the-art facilities, products and services, and highly-experienced and committed workforce to allow us to grab a significant market share in India’s booming steel market,” pointed out Al Dhaheri. Established in 1998, Emirates Steel grew in a relatively short period of time from a simple re-roller of imported steel billets to a complex integrated manufacturing plant, using modern solutions to tackle traditional industrial problems to generate value for its various stakeholders. In 2012, the Company began producing at a capacity of 3.5 million MTPA, following two expansions and the investment of AED 11 billion (US$ 3 billion).