11
Jun
01:00
Emirates Steel secures funds to extend range
Emirates Steel in Abu Dhabi says it has secured new credit facilities worth US$1.3 billion from 19 banks, without the need for government guarantees. The money will help fund the company’s expansion of integrated steelmaking, says company chairman HE Hussain J Al Nowais.
Emirates, which currently makes rebar, wirerod, and various sections, aims to produce steel to higher international standards, so that it can grow its overseas sales. It also says it w…
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Very good overview of the weekly steel market.
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