Khalifa Economic Zones Abu Dhabi (Kezad) has announced signing a preliminary agreement with Dana Steel, the flagship manufacturing unit of industrial conglomerate Dana Group, for the establishment of its first hot and cold rolling steel complex in the UAE capital.
As per the agreement, Dana Steel will make a key investment to develop a 50,000sq. m. facility within the integrated trade, logistics and industrial hub of Abu Dhabi.
Established in 2017, and catering to consumer markets across more than 50 countries throughout the Middle East, Africa, Europe, and the Americas, Dana Steel is one of the region’s largest and most modern manufacturers of Hot Dip Galvanized, Aluzinc, Prepainted Galvanized, Prepainted Aluzink and Prepainted Aluminum steel coils and sheets.
The new complex will facilitate backward integration of the company’s continuous galvanising and continuous colour coating lines and will have 500,000 MT rolling capacity, said a statement from Kezad Group.
This approach will help boost Dana Steel’s manufacturing capacity in the Gulf region by replacing imported raw materials, such as cold rolled full hard coils, with a new Made in UAE supply.
By providing a base for Dana Steel’s facility in Abu Dhabi, Kezad Group is extending its support for the Abu Dhabi Industrial Strategy, which looks to more than double the size of the emirate’s manufacturing sector to AED172bn by 2031 through a series of transformational programmes.
Group CEO Mohamed Al Khadar Al Ahmed said: “Owing to the modern infrastructure and efficient transportation network offered by Kezad and Khalifa Port, investors such as Dana Steel are selecting our industrial ecosystem as a base from which to grow their operations in the UAE and globally. By enabling vertical integration of their manufacturing supply chain, we look forward to supporting Dana Steel on its journey to serve customers and expand its international reach.”