Home Business Emirates Steel Arkan considering expansion in new markets in Asia, Africa: CEO

Emirates Steel Arkan considering expansion in new markets in Asia, Africa: CEO

by Dubai Forum
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ABU DHABI, 25th August, 2022 (WAM) — Saeed Ghumran Al Remeithi, CEO of Emirates Steel Arkan, said the group is considering expanding into new markets in Asia and Africa, which will enhance its international competitiveness.

In an interview with the Emirates News Agency (WAM), Al Remeithi said the group would explore new markets and increase its production and efficiency. The group has increased the number of its export markets to 60 by the end of the first half of 2022, compared with 56 markets at the start of the year.

The group’s strategy for diversifying its revenue sources includes increasing exports via various marketing channels, in addition to boosting the competitiveness of national products, supporting the unified industrial identity, titled, “Make it in the Emirates”, to encourage production and support national products, he added, noting that export markets currently account for 45 percent of the group’s sales.

Emirates Steel Arkan has maintained a market share of 60 percent, and aims to increase this figure by adding new and sustainable products, he further added.

Al Remeithi said he expects the group to continue its strong financial performance to the end of this year, by benefitting mainly from the UAE’s economic recovery and the growth of the real estate sector, as well as the continuous strategic partnerships to develop the industrial sector and support innovation and sustainability.

WAM/Lina ibrahim/Tariq alfaham

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