Fabrication sector upbeat, expects strong growth
Sharjah, January 7, 2014
Regional metal working, manufacturing and steel fabrication players are upbeat about the industry’s outlook this year ahead of a leading exhibition in Sharjah this month.
The 10th SteelFab will take place at the Expo Centre Sharjah from January 20 to 23, presenting opportunities and technological innovations from across the world.
Saif Mohammed Al Midfa, CEO of Expo Centre Sharjah, said: “There is much to look forward to this year for the regional metal working, metal manufacturing and steel fabrication industry. Right from the World Expo 2020 to the expanding construction and oil and gas sectors, the fabrication industry is poised for solid growth.”
The event is expected to attract an additional $10 billion of private sector spending, besides the official figure of $ 24 billion earmarked for building infrastructure and other facilities for the Expo 2020, an HSBC report said.
According to recent reports, the GCC pipes industry is to invest $18 billion in the next five years in new pipelines and associated infrastructure.
These positive indicators have encouraged more than 300 exhibitors, which includes leading manufacturers and dealers of equipment and technology, to take part in the exhibition, which has registered a 50 per cent expansion in space and a 25 per cent rise in the number of exhibitors.
The event will also introduce three new segments – Steel-Tech, Fabricators Pavillion and Steel Showcase – apart from regular focus areas like welding and cutting, material handling, machine tools and pipe and tube machinery, and a special section on used and re-conditioned machinery. - TradeArabia News Service