Emirates Steel targets on USD 60 million sales in Egypt

25 February 2015

Amwalalghad reported that Abu Dhabi's Emirates Steel is targeting sales worth USD 60 million from the Egyptian market within 2015.

Mr Juma Nasser Al Mansouri VP for sales of Emirates Steel said that Emirates Steel achieved sales worth USD 35 million in 2014. Emirates Steel will have remarkable participation in Egypt's March Economic Summit in Sharm El Sheikh, aiming to determine the best available investment opportunities in Egypt's steel field.

Furthermore, the Emirates businessman stated that the local market still enjoys several factors needed to allure investors. Emirates Steel is operating through a number of agents and suppliers in the Egyptian market.

Mr Al Mansouri denied Emirates Steel's intension to launch a new steel factory in Egypt saying that the company already has its products spread throughout 29 countries with investments reaching AED 11 billion approximately.

Emirates Steel is owned by SENAAT, the UAE's largest industrial conglomerate and a driving force for implementing the Abu Dhabi government's industrial diversification policy.