Steel Consumption of Emirates to rise by 4% this year
The consumption of United Arab Emirates' steel will most likely increase by 4 per cent in the current year, i. e. 2011, up to around 6.6 million tons. The increase will be aided by the demand from the industry of oil and gas, as reported by Gulf News. The media cited authorities at the SteelFab Exhibition.
There is a likelihood of consumption increasing by 5 percent or 6 percent in the Middle East this current year running, with Saudi Arabia and the U. A. E. heading it. This is due to the projects having a worth of $2.96 trillion that are being executed or planned, as told by a Dubai-based daily. It has referred to and cited Saadath Thajudeen, the chief of business of the Al Ghurair Iron and Steel Company.
The U. A. E. has contributed a total of $39 billion to contracts last year for the purposes of energy, infrastructure as well as buildings, as reported by Gulf News.
It cited the business advisory company Venture Middle East. Contracts all over the six-nation Gulf Cooperation Council had a worth of $148 billion, as reported by Gulf News.
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