Abu Dhabi – Mubasher: Emirates Steel on Wednesday announced that it has signed a strategic agreement with Abu Dhabi Marine Services (SAFEEN), a subsidiary of Abu Dhabi Ports, worth AED 1 billion.
The deal was inked by Emirates Steel CEO Saeed Ghumran Al Remeithi and Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, in the presence of a number of senior officials and engineers from the two firms.
Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (SENAAT), added in a statement that the decade-long agreement would be executed in January 2021.
“Emirates Steel continues to seek to enhance its production capabilities in Abu Dhabi, and the signing of this agreement falls in line with such a commitment. Through this agreement we have ensured the best shipping services for our cargo in order to continue to improve our production capacity in Abu Dhabi,” Al Remeithi commented.
Under the agreement, SAFEEN will provide short marine shipping services for three shipments of iron ore per month, in addition to being responsible for the purchase, rental, delivery, operation and maintenance of cargo ships, trailers and unloading equipment for Emirates Steel.
“This agreement is the result of a joint effort that has lasted over a year and it reflects the spirit of cooperation between the two national companies. The signing of this agreement with Abu Dhabi Marine Services Company comes following a tendering process, which attracted a diverse and international range of industry leaders,” Al Remeithi said.
He pointed out that the agreement will improve Emirates Steel’s capabilities, and contribute towards its goal of being an internationally leading manufacturer and supplier of high-quality steel products.
Signing the deal comes as part of Emirates Steel’s efforts to support the Abu Dhabi Economic Vision 2030.
