Building boom to boost Middle East steel sector

The Middle East construction boom will be one of the major driving forces behind the regional steel sector's growth in the coming years, according to industry sources, WAM news agency reported Tuesday.

Demand for steel in the region is expected to increase from 70 million tons in 2007 to around 90 million tons by 2010.

Steel production in the region is projected to increase by nearly 70 percent from 15.4 million tons in 2006 to over 26 million tons by 2010.

The demand for steel in the Middle East is driven by the region's rapidly expanding construction sector.

At present, the value of active construction projects within the Persian Gulf Cooperation Council (PGCC) region exceeds $1 trillion. Saudi Arabia accounts for more than $200b, Kuwait over $211b, and the United Arab Republic (UAE) above $221 billion.

The construction boom is bringing a major expansion of the region's steel industry as demands for machinery and equipment for major building projects are growing.

To address this demand, the fourth SteelFab exhibition is being organized at Abu Dhabi from Jan 21 to 23, 2008. It will be the Middle East's largest display of machinery, machine tools, welding equipment and supplies used in the fabrication of steel equipment.

The exhibition is being organized by Expo Centre Sharjah in collaboration with UCIMU-sistemi per produrre, Italy and the Sharjah Chamber of Commerce and Industry and will feature 400 exhibitors from more than 25 countries.

“The fourth edition of SteelFab will play a key role in fulfilling the sourcing requirements of the rapidly growing regional steel working industry,” said Fasahat Ali Khan, advisor to the chairman Expo Center Sharjah.

The Persian Gulf Iron and Steel Conference, attended by key players from the iron and steel industry around the globe, will be held alongside the exhibition.

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