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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

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    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

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    Egypt’s food industries contribute 24.5% of GDP

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    $36mln contract for construction of Duqm fisheries complex

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    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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      Profits at top Saudi banks jump 17.6% in Q1

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      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

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      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

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      New study reveals that UAE is most competitive economy in the Arab world

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      Oman Construction Equipment Industry to 2028

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      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

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      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

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        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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        JGC lands $3.7bn Iraq refinery upgradation project deal

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          Coronavirus: UAE conducting human trials for Covid-19 vaccine

          Coronavirus: UAE conducting human trials for Covid-19 vaccine

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          UAE sends medical aid to Iraq to fight COVID-19

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          UAE launches phase III trial of inactivated Covid vaccine

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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          Qatar’s hospitality sector peaks despite turbulent 2020

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          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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          Staycations to stimulate Qatar’s hospitality sector

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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

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          • Business & Economy
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            • Digital
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            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Top 10 listed companies in the Middle East

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            • CES 2017
            • Election Results
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          • Construction
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            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
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              • Power & Electricity
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              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Abu Dhabi looks to metals to build export growth

              Oxford Business Group

              March 8, 2016
              in Business, Economy
              0

              Rising demand for processed metals, fuelled by regional infrastructure projects, is set to help Abu Dhabi’s industrial sector build new momentum in terms of both output and sales.

              Downstream businesses are also expected to provide further opportunities for growth, supporting the government’s ongoing plans to broaden the emirate’s economic base.

              However, regional competition and cheap imports from farther afield could see more downward pressure on prices.

              Eyeing international sales
              The government’s long-term blueprint for the emirate, Abu Dhabi Economic Vision 2030, places industrial expansion high on the agenda as the emirate looks to increase the GDP contribution of non-oil sectors to 64% over the next 14 years. 

              The industries targeted under the plan – notably capital-intensive and export-oriented sectors – are projected to outpace GDP growth. A sharper focus on manufacturing should also support broader efforts to accelerate job creation and promote the development of industrial companies.

              Ayman Al Makkawy, director-general of the Industrial Development Bureau, told OBG that a drive under way in the UAE to develop sustainable industries has heightened the role earmarked for industrial manufacturing.

              “The metals and petrochemicals industries are important diversification anchors for the UAE, and developing the downstream processing sectors is key to furthering its efforts,” he said.

              Other growth industries, such as aviation, food processing, industrial and transport equipment, construction materials, packaging and energy support services, are also likely to increase demand for metals and engineered metals in the emirate.

              A new deal signed in mid-January between Abu Dhabi Ship Building and shipping services provider Docklands World could offer an additional boost for metals suppliers. According to the memorandum of understanding, the firms will form a strategic partnership to offer naval and commercial vessel maintenance services, which often involve the use of steel and aluminium.

              Major players
              Abu Dhabi’s efforts to spur industrial growth will be steered in large part by local players like Emirates Global Aluminium (EGA) and Emirates Steel.

              EGA, which was formed through the 2013 merger of Abu Dhabi-based Emirates Aluminum (EMAL) and Dubai Aluminum, has annual casting capacity of 2.8m tons, representing almost half of the region’s total. The company’s EMAL facility also houses the world’s largest single-site smelter.

              Aluminum has had one of the steepest growth trajectories of any metal segment in Abu Dhabi in recent years. Its share of total exports rose from 1.9% in 2013 to 12.2% by 2014, according to Statistics Centre – Abu Dhabi.

              Steel has also seen steady growth, with regional demand for the metal expected to rise by 4.6% to reach 76.1m in 2016, according to the World Steel Association.

              Emirates Steel is a major regional player, producing rebar, wire rod and structural steel, with a combined production capacity of 3.5m tons.

              Demand drivers
              Strong demand from key sectors in the region, such as power and construction, should see sales of both steel and aluminum increase over the coming decade, with a focus on developing value-added products.

              Emirates Steel, for example, has included Q-class – or nuclear quality, reinforcing steel for use in the construction of nuclear power stations – in its production portfolio, as well as medium- and high-carbon wire rod, sheet piles and offshore grades.

              As the only steelmaker in the MENA region currently qualified to produce Q-class reinforcing steel, this should secure Abu Dhabi a competitive advantage, particularly as the UAE and other Gulf states pursue civilian nuclear power capacity.

              Saeed Ghumran Al Romaithi, CEO of Emirates Steel, is similarly bullish on the industry’s prospects.

              “The GCC’s construction sector continues to be stable, which drives demand for steel,” Al Romaithi told OBG. “The multi-billion-dollar infrastructure projects planned across the region will be the main driver of the region’s demand for steel in the coming years.”

              External pressures
              While there are clear growth prospects for the aluminum and steel industries, both will likely have to contend with growing competition.

              Faced with cooling domestic demand, China has sought to expand metal exports to the Middle East, often at below-market prices.

              Chinese exports of finished steel products to the GCC jumped in 2015, rising by 80% to nearly 5.6m tons in the twelve months to May 2015, according to Emirates Steel. The Asian giant is also directly competing with local producers in other export markets.

              Additional producers, including Turkey, members of the Commonwealth of Independent States and South Korea, are aggressively marketing cheap steel in the region, prompting calls from Abu Dhabi’s producers for the implementation of more stringent anti-dumping measures.

              While China announced plans to curb steel output in early February, with as much as 150m tons of capacity to be shuttered over a five-year period, analysts believe this will do relatively little to ease deflationary pressures.

              China is also increasing competition in the aluminum industry, after growing its share of global supply from 18% in 2003 to 50% by 2015. This, combined with continued oversupply in the market, could keep prices subdued and competition heated in 2016.
              Oxford Business Group
              8 March
               

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