Mr Saeed G Al Romaithi CEO of Emirates Steel said that the company has poured USD 500 million to invest in a large scale steel mill to meet the growing demand for constriction steel in Gulf Cooperation Council area.

The new steel mills will be able to produce 1.6 million tonnes of direct reduced iron and it will own a 1.4 million tonnes capacity smelter. The construction of the steel mill is expected to be completed in early 2012 and it will own 1 million tonnes of annul production.

Mr Saeed G Al Romaithi indicated that the demand for section steel in GCC area is expected to rise continuously. The GCC area’s current annual demand for section steel is at around 1 million tonnes.

(Sourced from YIEH.com)