Skip to content Skip to Search
Skip navigation

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.

Latest articles

Amanat's listing represents the third education IPO in the UAE over the past two years

Amanat to list its education platform

Amanat Holding, an investment company in Dubai, has announced plans to list its education platform. The move will be the third education-related initial public offering in the UAE in the last two years, following the listing of Dubai’s Taaleem in 2022 and Abu Dhabi’s Alef Education earlier this year. Amanat, which specialises in healthcare and […]

Mazaya Holding Oman fraud

Al Mazaya reports legal proceedings after alleged fraud

The Omani subsidiary of Al Mazaya Holding has uncovered alleged fraudulent activity by employees of the company, estimated at OR242,000 ($628,000). A criminal complaint has been filed by the Kuwait-based real estate development giant against “some of the company’s employees” regarding collections of the sale and rent of some units, according to filings on Boursa […]

ADQ's holdings include Abu Dhabi National Energy Company (Taqa) and are worth almost $200 billion

ADQ: how Abu Dhabi’s ‘baby’ fund is finding its feet

Abu Dhabi sovereign wealth fund ADQ may be the younger, smaller sibling of ADIA and Mubadala but there are no signs of an inferiority complex as it executes billion-dollar deals at home and overseas. Most notable was the $35 billion agreement signed with the Egyptian government in February this year to develop Ras El Hekma, […]

Suriname oil

QatarEnergies buys into Suriname oil expansion

The state-owned giant QatarEnergy has signed a deal with US oil company Chevron to acquire a 20 percent interest in a production-sharing contract for an offshore concession in the South American country of Suriname. Chevron will keep a 40 percent interest in Surname’s block 5, as will Paradise Oil, an affiliate of Suriname’s national oil […]