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HomeChannelsBusinessEmirates Steel, Abu Dhabi Ports sign deal worth AED1 billion

Emirates Steel, Abu Dhabi Ports sign deal worth AED1 billion

|By Arabian Post Staff| UAE’s integrated steel maker Emirates Steel, nd a subsidiary of the General Holding Corporation (SENAAT), has signed a strategic agreement with Abu Dhabi Marine Services (SAFEEN), a subsidiary of Abu Dhabi Ports, which has been valued at AED 1 billion.

The agreement, which will be implemented in January 2021 and will extend over the following ten years, is the result of Emirates Steel’s commitment to both providing high quality products, and optimizing its supply chain in accordance with international standards. Such aims fall in line with Emirates Steel’s efforts to support Abu Dhabi Economic Vision 2030.

In the agreement, SAFEEN will provide short marine shipping services for three shipments of iron ore per month. Additionally, SAFEEN will be responsible for the purchase, rental, delivery, operation and maintenance of cargo ships, trailers and unloading equipment for Emirates Steel.

Company officials said the agreement will enhance Emirates Steel’s capabilities, and contribute towards its goal of being an internationally leading manufacturer and supplier of high quality steel products, alongside providing technical services and solutions to clients, and increasing revenues for shareholders.

 


Also published on Medium.