55% boost in domestic sales, 45% surge in international exports in H1 2023: Emirates Steel CEO

55% boost in domestic sales, 45% surge in international exports in H1 2023: Emirates Steel CEO

ABU DHABI, 3rd August, 2023 (WAM) -- Saeed Ghumran Al Remeithi, Group CEO of Emirates Steel Arkan, said the group’s financial performance in the first half of 2023 was successful despite the industrial sector's challenges.

He attributed the company's success to a rise in demand from local markets, which accounted for 55 percent of the company's iron sales.

In his statement to the Emirates News Agency (WAM), Al Remeithi also noted that the company exported some 45 percent of its iron production abroad in the first half of 2023, and the group's exports reached more than 70 countries, reflecting the quality and efficiency of products that bear the "Made in the UAE" brand, in line with the company's efforts to help achieve the industry’s national strategic goals, including "Operation 300 Billion," which supports the national industry and aims to double production and exports to boost the country's GDP.

He also affirmed the group's strategy to expand in global markets and focus on producing high-value-added products, noting that in the first half of this year, the group succeeded in producing more than three times the amount of high-value-added products compared to the first half of 2022.

Regarding the company’s sustainability efforts, Al Remeithi highlighted the