Emirates Steel Expansion

Emirates Steel Industries PJSC, the state-owned company that operates the largest steel plant in the United Arab Emirates, received a USD 1,1 billion loan from a group of regional banks as it seeks to expand output.

Emirates Steel is using the funds to finance a production expansion. The steelmaker aims to boost output in two phases to about 6,5 Mt/a by about 2015. (08/2010)