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Updates during the day from our global editorial team.
Emirates Steel (ESI) is pushing ahead with its Phase 3 expansion into hot rolled coil production, years after the project was initially put on hold due to gas shortages. The firm says it is currently conducting a comprehensive evaluation for the project, which will boost crude steel capacity to over 5 million tonnes/year.
“After completing the evaluation process, we plan to meet the increasing demand on HRC and flat products in local and regional markets through the new expansion of its assets and operations,” ESI chief executive Saeed Al Remeithi says in a note sent to Kallanish. “Launching our new HRC products is part of our growth plans which aims to maximise our contribution to UAE industrial sector.”
The move is in line with the goals of Abu Dhabi Economic Vision 2030 to increase competitiveness through diversification and provide local content for flat steel end users.
Al Remeithi, along with a number of his industry peers in the Gulf Cooperation Council, have for years called for investment into flat steel using sectors to reduce the dominance of construction in steel consumption. This would then spur the need for local flat steelmakers. The region’s only HRC producer to date remains Saudi Iron & Steel Company (Hadeed) in Saudi Arabia.
ESI did not divulge before deadline the capacities of the production units involved in the expansion. The initial plan was to install a 2.1m t/y capacity hot strip mill, together with 2.3m t/y meltshop and 2.5m t/y direct reduced iron plant.
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