UAE steel demand to rise 25 per cent in 2015

Dubai?s constant attempt to upgrade its infrastructure to align with the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has spelled a boom for the local steel industry.

The boom in the steel industry may touch an almost 25 per cent increase in steel demand in 2015, against an estimated 15 per cent growth in 2014, said a top official of Conares.

?Key projects like Canal, airport development, theme parks, Etihad Railway, the extension of the RTA Metro will boost steel demand in the local sector and Conares is all set to grab this opportunity. We have plans to set up additional facility in Jebel Ali and aim to produce an installed capacity of one million tonnes by June 2015,? CEO Bharat Bhatia.