Emirates Steel Arkan, the largest public steel and building materials manufacturer in the UAE, has linked up with Japanese trading house Itochu and JFE Steel in a plan for a ferrous raw material production facility in Abu Dhabi.
The move could bolster the Emirates’ efforts to further lower the emissions of its industrial activities.
ESA, formed after the merger of Emirates Steel and Arkan Building Materials last year, and the two Japanese companies will carry out feasibility studies for the creation of the facility in the UAE capital, the steel manufacturer said in a statement on Monday to the Abu Dhabi Stock Exchange, where its shares are traded.
The plan is intended to meet growing demand for green steel.
“We are proud to be leading efforts among steel makers in the Middle East to decarbonise amid an intensification of the global drive to curb carbon dioxide emissions,” Saeed Al Remeithi, group chief executive of Emirates Steel Arkan, said.
Read More : https://www.thenationalnews.com/business/2022/09/26/emirates-steel-arkan-teams-up-with-japanese-companies-to-produce-low-carbon-steel/
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