Emirates Steel Arkan, Abu Dhabi Department of Economic Development and ITOCHU sign MoU

Emirates Steel Arkan, Abu Dhabi Department of Economic Development and ITOCHU sign MoU

- Emirates Steel Arkan and ITOCHU collaborate on Low-Carbon Iron Production Hub pioneering sustainable innovation in the UAE's low-carbon iron supply chain

Abu Dhabi, United Arab Emirates: Emirates Steel Arkan (ADX: EMSTEEL), one of the largest publicly traded steel and building materials manufacturers in the region, signed a Memorandum of Understanding (MoU) with the Abu Dhabi Department of Economic Development (ADDED) and ITOCHU Corporation to pursue studies focused on the establishment of an integrated steel production complex in Abu Dhabi.

In partnership with ITOCHU Corporation and facilitated by ADDED, Emirates Steel Arkan aims to establish an iron production complex in Abu Dhabi that will play a significant role in the global supply chain for low-carbon iron, drive sustainable growth in the country’s low-carbon iron supply chain and contribute towards achieving the UAE Net-Zero 2050 strategic initiative.

Eng. Saeed Ghumran Al Remeithi, Group CEO, said, "As part of our commitment to join efforts with industry leaders that share our ambitions to provide low emission solutions to the global steel industry, we are proud to partner with ITOCHU Corporation once again to establish a first of its kind low carbon iron production complex in Abu Dhabi. This collaboration, with the support of the Abu Dhabi