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| ME to continue steel imports despite increased production |
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| DUBAI (Agencies): The Middle East will continue to be a net importer of steel due to increasing demand, even if production is set to increase 70 per cent to 26 million tonnes by 2010 from this year’s 15.4 million tonnes, according to the organiser of Sharjah exhibitions dedicated to the steel industry.
In a statement, Expo Centre Sharjah yesterday said the region would need 90 million tonnes of steel by 2010 from 70 million tonnes this year. The Middle East has a current demand for steel at nine per cent per annum mainly due to the rapidly growing construction sector.
It said the SteelFab, which is on its fourth edition, and the first SteelTech exhibitions, to be held at the centre on January 21-23, would address the region’s construction sector, whose active projects in the Gulf Cooperation Council member states alone exceed Dh3.67 trillion ($1 trillion).
The UAE has the largest amount of active projects at Dh811.6 billion ($221 billion) among the six GCC countries followed by Kuwait with Dh775 billion ($211 billion) and Saudi Arabia with Dh734.5 billion ($200 billion).
“These development projects have no doubt to a very large extent contributed towards the unprecedented growth that the regional steel working industry is currently witnessing,” said Fasahat Ali Khan, adviser to the chairman and board of directors, Expo Centre Sharjah.
The exhibitions will feature the region’s largest and most comprehensive display of machinery, equipment, accessories and technology for steel working and production industries, the organiser said. Some 400 brands and companies from over 25 countries will participate in the trade shows.
“Over the last three editions SteelFab has succeeded in not only establishing itself as a comprehensive sourcing avenue for the regional steel working industry but has also made its mark as an effective networking platform for the industry,” said Saif Al Midfa, the centre’s director-general.
The organiser said the maiden edition of SteelTech would feature the complete range of technology, equipment and products for the sector including steel producers, rolling mills, tube and pipe manufacturers, wire producers, steel processors and rebar manufacturers.
It added that the Gulf Iron and Steel Conference would be held alongside SteelTech to give industry players the chance to discuss key issues affecting the industry. |
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