Wednesday 27 October 2021

Sharjah gears up for top steel industry expo

SHARJAH, January 15, 2017

Over 900 national and international brands from 111 Emirati companies and 206 foreign companies will be showcased at the SteelFab Middle East 2017 which opens its doors tomorrow (January 16) at the Expo Center Sharjah.

The region’s leading steel fabrication event, SteelFab Middle East will be inaugurated by Sheikh Khalid bin Abdullah Al Qasimi, the chairman of the Customs and Seaports Department, and run until January 19 on more than 26,000 sq m of exhibition space.

The expo provides a unique opportunity for businessmen, investors, and experts to review cutting-edge equipment and machines for steel fabrication, said the organisers.

The expo also presents modern technologies in steel forming, metal-cutting, finishing, milling, and heavy machinery, as well as other related engineering applications, they stated.

Highlighting the importance of the expo, Saif Mohammed Al Midfa, the chief executive of Expo Center Sharjah and chairman of UFI's MEA chapter, said: "It stems from the vital role this industry plays in the economical and industrial development of the society, and being a pivotal component of many other vital industries, such as mining, refractories, ferroalloys industries."

Al Midfa dubbed SteelFab as one of the most notable economic and commercial events in Sharjah.

Furthermore, he stated that this event sheds light on the emirate’s economy as an international destination for major event of international value.

Al Midfa forecasted that major economic sectors, including manufacturing, construction, building, infrastructure, and nascent sectors such as aviation will maintain a high level of demand for productions of steel industry and metal in the region.

This includes other related industries that also depends on these productions like automobile industry, shipbuilding, home appliances, canned goods, equipment manufacturing as well as other engineering industries, he added.

Citing experts' predictions, Al Midfa said Arab investment in this industry could reach $100 billion, with steel demand of 55 million tons in 2017.

Saudi Arabia, UAE, Kuwait, and Qatar will probably offer contracts ranging between $140-160 billion until 2019, the experts stated.

With speculations of cancellation, postponement, or downgrading unlikely, Al Midfa forecasted a healthy sector on the long run, they added.

Al Midfa highlighted some of the mega projects in Saudi Arabia, including the Eastern Subsidiary Centre Project executed by Al Mezini Company with a value of $15 billion, and Makkah Metro lines (B – C), worth $8 billion.

In the UAE, the prime ones are Al Maktoum International Airport Expansion (Dubai World Central DWC) worth $32 billion and “Western Chemical City” worth $20 billion besides the projects related to Expo 2020 Exhibition, while in Qatar, the mega developments include Qatar Rail and Fifa World Cup 2022 projects.

In Kuwait too, there is good scope with major refining projects coming up in the country.-TradeArabia News Service

Tags: Qatar | UAE | Sharjah | expo | Steel industry | World Cup 2022 |

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