UAE's Green Metal Industries to Transform Steel Sector with $100 Million Investment

UAE's Green Metal Industries to Transform Steel Sector with $100 Million Investment

By Staff Writer, 28 March 2024

A new venture in Abu Dhabi is set to revolutionize the steel industry with a groundbreaking initiative in recycling and production.

Green Metal Industries, a UAE-based company, has announced plans to establish a state-of-the-art facility in Kezad, Abu Dhabi, with an investment totaling AED367 million ($100 million).

This ambitious project comes to fruition through a strategic partnership between Green Metal Industries and Khalifa Economic Zones Abu Dhabi – Kezad Group, the largest operator of integrated and purpose-built economic zones in the region.

The agreement signifies a significant step towards enhancing the industrial landscape of Abu Dhabi and fostering economic growth.

Construction of the facility has already commenced, with commercial production expected to commence in the first quarter of 2025.

The establishment of this plant is anticipated to create employment opportunities, stimulate economic development, and drive innovation within the region.

Situated across an expansive area of 116,000 square meters in Kezad Industrial Area, the facility will primarily utilize locally-sourced raw materials for processing, contributing to sustainable development and innovation in the construction sector across the GCC and beyond.

Mohamed Al Khader Al Ahmed, CEO of Khalifa Economic Zones Abu Dhabi – Kezad Group, expressed enthusiasm about the collaboration, stating that Green Metal Industries' innovative recycling approach aligns with their vision of creating a sustainable industrial ecosystem in Kezad, in accordance with the Abu Dhabi Industrial Strategy.

The production site will specialize in manufacturing high-quality materials, including various grades of stainless steel and alloy steel, catering to the increasing demand for sustainable steel products in the UAE and neighboring regions.

Mohammed M Noor, CEO of Green Metal Industries, emphasized the company's commitment to sustainability and innovation, underscoring the importance of collaboration with local stakeholders, government agencies, and the community to ensure the successful implementation of the project.

Source: TradeArabia

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