Firm will use facility as staging post for Belt and Road Initiative projects in region
Maanshan Iron and Steel Company (Masteel) have established a new base in Jebel Ali Free Zone (Jafza), Dubai. Established as Masteel Middle East, the firm aims to export a variety of steel products across the Middle East and North Africa (MENA).
According to a statement, Masteel Middle East will expand the export market for hot rolled steel, section steel and cold rolled steel, and PPGI (pre-painted galvanised iron) and GI (galvanised iron) products, in addition to the shafts market.
Qian Haifan, general manager of Masteel and Ahmad Al Haddad, chief operating officer, Parks and Zones, DP World, UAE Region, inaugurated the new facility.
“On behalf of DP World, we congratulate our valued partner Masteel on its success. We look forward to this exciting chapter that will build stronger trade ties between our two countries for mutual prosperity for our people. The inauguration of this new facility is a testament to Jafza’s value proposition for large companies and reflects our position as a leading driver of economic diversification,” said Mohammed Al Muallem, CEO and MD, DP World, UAE Region and CEO of Jafza.
Masteel Middle East plans to integrate into the local market immediately to respond to customer requirements, actively respond to the measures advocated in the Belt and Road Initiative (BRI) of China, servicing BRI projects in the UAE and the Middle East market, enabling Masteel products to grow roots in the regional market, and act as the bridgehead for promoting Masteel’s international development strategies, the statement said.
Qian Haifan, GM of Masteel added, “In recent years by taking inspiration from the Belt and Road initiative and Globalisation of China, we have focused on promoting the progress of its international operations. On the one hand, we are systematically optimising the layout of the global market. It has established branches in the US, Germany, Korea and Australia, having formed the overseas market and business distribution covering Asia, Europe,
Oceania and America. On the other hand, while strengthening the export of steel products by integrating Masteel overseas resources and operations, we have promoted our overseas business including import and export of steel and raw materials, deep processing and financing, and much more.”
Jafza hosts a Traders Market that will serve as the primary logistics hub linking the GCC with the BRI project, the statement noted.