Emirates Steel is seeking to cash in on a construction boom across the region and an increase in demand for oil and gas infrastructure with the completion of a Dh2.4 billion (US$650 million) mill to make giant girders, beams and pilings.
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The company launched a $2.45 bn expansion programme in January 2006, and its first phase was completed in the middle of 2009. Emirates Steel is now able to produce 2.8 million tonnes a year of steel, and 3.2 million tonnes a year of iron.
"Now that Phase 2B is complete, we will be the only producer of jumbo and heavy sections in the Middle East and North Africa region," said Suhail Al Ameri, the chairman of Emirates Steel.
The growth in capacity to date has not been sufficient to meet domestic demand for steel. Last year, UAE imports of steel grew by more than 15 per cent, according to analysts.
The new mill will enable the producer to tap healthy regional demand for large components. Emirates Steel estimates the need for heavy-section steel products in the GCC will double by 2015.
The use of steel declined last year in the wider region as the Arab Spring interrupted projects and construction activity.
But the World Steel Association expects a significant rise in demand this year.
"Boosted by high oil prices, steel use in the region is forecast to resume growth in 2012 at a rate of 8.7 per cent," said the association in an outlook report.
Analysts believe growth in sectors such as oil and gas, tourism, manufacturing and infrastructure will aid the construction sector in the future, presenting a huge opportunity for companies such as Emirates Steel.
Neighbouring Saudi Arabia has budgeted billions of dollars worth of infrastructure spending over the next five years, underlining its position as the biggest consumer of steel in the region.
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COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Representing%20UAE%20overseas
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Volunteers offer workers a lifeline
Community volunteers have swung into action delivering food packages and toiletries to the men.
When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.
Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.
Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.
“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.
Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.
“More than daily food, they are worried about not sending money home for their family,” said Kusum Dutta, a volunteer who works with the Indian consulate.
The specs
AT4 Ultimate, as tested
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Torque: 623Nm
Transmission: 10-speed automatic
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
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Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
COMPANY%20PROFILE
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THE SPECS
Engine: 2.0-litre four-cylinder turbo
Transmission: eight-speed automatic
Power: 258hp at 5,000-6,500rpm
Torque: 400Nm from 1,550-4,400rpm
Fuel economy, combined: 6.4L/100km
Price, base: from D215,000 (Dh230,000 as tested)
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