Emirates Steel Arkan (ADX: EMSTEEL), one of the largest publicly traded steel and building materials manufacturers in the region, is hosting the 26th Fastmarkets Middle East Iron and Steel Conference 2023, taking place on November 20-22 at Atlantis, The Palm. During the event, the Group is showcasing its industry leading sustainable manufacturing efforts that contribute to achieving the UAE’s net-zero targets.
This premier steel industry event brings together over 1,000 senior decision-makers from the iron and steel ecosystem, to discuss various challenges faced by the industry, identify innovative solutions and ensure the continued resilience and agility of the sector.
As part of the Group’s participation, Eng. Saeed Al Ghafri, CEO of Emirates Steel, an Emirates Steel Arkan company, took part in a panel discussion titled "The Dawn of a New Steelmaking Era" which discussed various aspects of the steelmaking sector in the region, including the latest projects, regional demand drivers, challenges and opportunities associated with energy transition, and the impact of global geopolitical environment on the steel industry.
Al Ghafri highlighted that while recent years witnessed a slow demand for steel, projected to decrease by 9% in 2023 due to factors like high interest rates and reduced demand for housing, the outlook for the next five years anticipates a resurgence supported by robust economic development, population growth, and mega-projects across the region.
Al Ghafri also emphasized the impact of the global geopolitical landscape on the steel business, as well as how government and policy makers have implemented various decisions to protect and ensure the sustainability of local industries, underscoring that no modern industrial economy can exist and thrive without a strong, resilient, and prosperous steel industry.
Concluding his panel, Al Ghafri reaffirmed the Group’s commitment to leading the industry’s decarbonization efforts at unprecedented scale to realize global net-zero targets through a detailed sustainability strategy that aims to implement carbon capture and other innovative technologies on an industrial level. He also stressed the importance of collaboration between public and private sector stakeholders to achieve the ambitious goals of energy transition and a more sustainable and agile circular economy.
Several Emirates Steel Arkan executives also participated in a series of panel discussions that shed light on the opportunities in global steel decarbonization, human capital management and the importance of women in the steel industry, as well as the latest technological frontiers for the steel business and the MENA region.
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