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UAE-based steel company plans expansion in Asia and Africa

Emirates Steel Arkan CEO Saeed Ghumran Al Remeithi

UAE-based Emirates Steel Arkan is considering expanding into new markets in Asia and Africa, chief executive officer Saeed Ghumran Al Remeithi told WAM, the UAE state news agency.

He said the group was aiming to increase the number of its export markets to 60 by the end of the first half of 2022, compared with 56 markets at the start of the year.

Export markets currently account for 45 percent of the group’s sales.

Emirates Steel Arkan has maintained a market share of 60 percent and aims to increase this figure by adding new and sustainable products, the CEO added.

Al Remeithi expected the company to continue its strong financial performance by year-end, driven by the UAE’s economic recovery and real estate market recovery.