UAE - Muabsher: Maanshan Iron and Steel Co. Ltd (Masteel), a leading steel manufacturer based in China, has formally established Masteel Middle East FZE (Masteel ME) in Jebel Ali Free Zone (Jafza) in Dubai.
The Chinese firm's wholly-owned subsidiary in the Middle East was jointly inaugurated by the general manager of Masteel Qian Haifan and chief operating officer of Parks and Zones at DP World UAE Region Ahmad Al Haddad, according to a press release.
Masteel ME’s business will be mainly focused on exporting all kinds of Masteel’s steel products in the Middle East and North Africa.
“Recognising the dynamic characteristics of the Middle East market, and combining the advantages of its diverse high quality products, Masteel ME is expanding the export market mainly for hot rolled steel, section steel and cold rolled steel, and pre-painted galvanised iron and galvanised iron products, as well as the shafts market,” the release highlighted.
The new arm aims to integrate into the local market to meet customers’ demand under the measures of the Belt and Road Initiative (BRI).
Masteel ME plans to extend its presence in the UAE and the Middle East markets through implementing BRI projects, facilitating Masteel's products to spread in the regional market, and acting as the “bridgehead” for promoting the Chinese company's international development strategies.
On Monday, DP World Plc announced partnering up with Zhejiang China Commodity City Group Company Ltd (CCC) to develop the Traders Market in JAFZA.
