Emsteel contributes $1.6bn to Abu Dhabi GDP
Emsteel has contributed approximately AED6.2 billion ($1.69 billion) to the gross domestic product (GDP) of the Emirate of Abu Dhabi, the Group CEO Engineer Saeed Ghumran Al Remeithi has said.
In statements to the Emirates News Agency (WAM), on the sidelines of the 'Make it in the Emirates 2025', Al Remeithi stated that the group currently holds a significant share of the UAE's industrial output. It contributes 10% to the total non-oil manufacturing sector in Abu Dhabi and commands 60% of the steel market across the country.
He emphasised the group's commitment to developing the industrial ecosystem in the UAE. Emsteel has emerged, he said, as one of the main supporters of the National In-Country Value (ICV) Programme. In 2024, the group allocated more than AED3.5 billion to local procurement, collaborated with over 1,365 local suppliers, and directed 48.2% of its total procurement spending to domestic companies.
Regarding market performance, Al Remeithi noted that the steel market in the UAE witnessed growth exceeding 20% last year. This growth is expected to continue at a rate of over 10%, driven by major projects, especially in the energy and infrastructure sectors.
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