Protected: Arab Steel Magazine Jan-Feb 2022
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March 1, 2022
Emirates Steel and SNIM Agree on Vital Feedstock Supply for UAE Steel Production
Emirates Steel, the leading integrated steel plant in the Middle East, has sealed a memorandum of understanding (MOU) with Mauritania’s Société Nationale Industrielle Et Minière (SNIM) to look into the feasibility of creating a joint venture company to produce iron oxide pellets. Under the 18-month agreement, signed by Engineer Saeed Ghumran Al Remeithi, Group CEO …
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“Watani Steel” profits rise 51.4% in 2021, supported by sales
Watani Iron and Steel Company “Watani Steel” achieved a net profit increase of 51.4% during the year 2021 on an annual basis. According to the company’s financial statements issued March 1 on the Saudi Tadawul website, the net profit amounted to 47.06 million riyals after zakat and tax, compared to 31.08 million riyals in 2020. …
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