The steel industry in the Middle East is on a roll with several major players announcing plans to build new plants and expand production, said experts at the opening of a heavy industry expo in Sharjah on Monday.

The Thermal Industry Middle East (TIME) is a dedicated show for heavy industry in the Middle East and considered a one-stop shop for steel, aluminium, cement, and glass & ceramic technology.

Ahmed Mohamed Al Midfa, chairman of Sharjah Chamber of Commerce & Industry and Expo Centre Sharjah opened the event which runs uptill October 19.

'TIME is a unique event as it caters to the requirement of all heavy industries like steel, cement, aluminium, glass and ceramic segments,' said Al Midfa at the inauguration.

The show features specialist suppliers for each of its sub-sections such as Steel-Tech, Alu-Tech, Cement-Tech and Glass & Ceramic-Tech, he added.

Also exhibiting are suppliers and manufacturers of industrial spares, components and consumables which are required for all heavy industry.

With the steel industry in the Middle East is on a roll, this buoyancy is set to reflect in the visitor turnout and sales at the TIME trade show, the experts added.

For the second edition of the show, steel and cement continue to be key focus areas, mainly due to the relative larger number of plants in the Middle East.

A fast-growing market has encouraged major players in the steel sector to announce new projects and expand existing ones, they noted.

According to experts, the demand for steel in the GCC still surpasses domestic supply several-fold.

Production is 10 million tonnes per year, whereas consumption is around 25 million tonnes, and the regional industry has to rely on imports, they added.

“Regional players are trying to bridge this gap by capacity expansions and new projects, thus opening up new avenues of opportunity for all segments of the steel industry,' said Al Midfa.

'Steel-Tech at Time is a platform for suppliers to the Steel Mills to showcase equipment, technology and services,' he added.

Most of the steel projects are big ticket investments which include Saudi-based Rajhi Steel's plan to set up a $4 billion heavy steel complex in King Abdullah Economic City, and Oman’s Takamul Investment Company’s new specialty steel products plant at Sohar at a cost of $30 million.

The Saudi unit of ArcelorMittal, the world’s largest steelmaker, expects to start production in the first half of 2012 at its new $700 million mill at Jubail in eastern Saudi Arabia.

Emirates Steel, after commissioning the second phase of its expansion plan which will take the annual steelmaking capacity of the company to 2.8 million tonnes, has invited companies to bid to work on phase three of its expansion project.

Qatar Steel has signed a contract with Siemens VAI to build a new steel plant to meet growing demand in Qatar and the wider region.

The buzz in the steel industry is apparent in the turnout of turn-key suppliers of rolling mills like AR Engineering, furnace manufacturers like Inductotherm, Wesman and MIT Australia and refractory manufacturers like Cumi and Capital Refractories, said the organisers.

The cement industry is also a prime focus at TIME 2011 considering that there are more than 50 cement plants in the GCC itself.

Although new plants may be slightly postponed, upgrading, maintenance and consumable supply to existing plants provides a significant market for cement plant suppliers, they added.

Nearly 100 exhibitors and brands are showcasing exhibits related to steel making, cement manufacturing and other heavy core industry at the show, which is organised by Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry.

TIME will be held alongside the debut edition of 'Green Middle East,' the environmental management and technology exhibition and conference, with sub-sections such as solid waste, waste water, air pollution, scrap metal, alternative energy and green building.-TradeArabia News Service