Besides the acquisition, ArcelorMittal Projects has leased 1.38 million square feet of industrial land.
The announcement was made during the signing of a Memorandum of Understanding (MoU) by Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, and Johannes De Schrijver, CEO of ArcelorMittal Projects, in the presence of senior officials from both sides.
According to the agreement, the company shall provide complete, customised, and sustainable steel solutions and services via three specialised and project-related business lines: Foundation Solutions, Solar Projects, and Energy Projects (Anti-corrosion coating solutions), in addition to (Water Transmission Pipeline), Infrastructure (Sleeves, Construction).
Commenting on the agreement, Al Mazrouei said, "We are so proud to add another industry leader to our investors' base at HFZA. The presence of ArcelorMittal Group, the world’s leading steel company, constitutes a great asset to the industrial sector in Sharjah. Such a move encourages other investors to launch new vital projects in the near future, especially now that the UAE is moving rapidly towards economic recovery.
"HFZA is very keen to fulfil the aspirations of the existing companies and new investors in terms of enhancing the level of support and facilitating their access to privileges and services provided by the free zone and the emirate so that they can achieve rewarding returns on their investments"
Al Mazrouei stressed that Sharjah has cemented its position as a favoured regional investment and economic destination, thanks to its highly competitive advantages and the wise directives of His Highness Sheikh Dr Sultan bin Mohamed Al Qasimi, Supreme Council Member and Ruler of Sharjah.
He stated that attracting ArcelorMittal Projects, which is part of one of the leading steel companies in the world, is a turning point in HFZA's directions towards realising the requirements of the UAE’s industrial strategy. It also reflects the Authority's firm commitment to be a key player in achieving Sharjah's sustainable development.
Al Mazrouei concluded by saying, "This agreement clearly shows the confidence of investors in HFZA as a major base and favoured destination for heavy and medium industries, thanks to the distinguished services provided and commitment to quality and safety standards.”
"We are pleased to forge a long-term partnership with HFZA, through which we seek to provide the most cost-effective solutions. Our products are backed with the technical expertise of highly qualified people with an average experience of more than 15 years in HSAW/SSAW Pipe Manufacturing and Anti-Corrosion Coating," said Johannes De Schrijver.
De Schrijver lauded the economic development witnessed by the UAE and Sharjah in particular, emphasising that Sharjah's strategic location as a regional leading and thriving destination and the privileges offered by HFZA was a major catalyst for ArcelorMittal Group to set up its new plant in the region.
This helps us carry out our operations and plans to expand in regional and international markets to meet the growing demand in global markets, he noted.
De Schrijver added: "The HSAW/SSAW Pipes can be produced with a diameter ranging from 16” up to 100” and wall thickness starting from 6 mm to 25 mm with a capacity of 150,000 tons per annum. Pipes can be produced with lengths up to 36 m without circumferential weld. Longer pipes can be achieved by welding. We can provide pipes in all requested Steel Grades due to our worldwide network of coil producers.
Alongside production, ArcelorMittal Projects Middle East also offers anti-corrosion coating of external and internal pipe surfaces according to International Technical Specifications and Standards, with a capacity of 1.5 million square metres per annum. The coating facility is an added advantage that enables Projects Middle East to offer its customers value-added services in the Utility and Energy sector.
The Middle East spiral welded pipes market is estimated to garner a sizeable revenue by growing at a noteworthy rate. The growth of the market can be attributed to the growing infrastructural development in the region, and the increasing number of desalination plants to treat water, making pipelines an essential mode of water transportation from said plants to areas where potable water is needed.
Apart from these, pipelines are widely being adopted as a key mode of transportation for petroleum, fossil fuel, and several refined products in many countries, which in turn is expected to boost the demand for spiral welded pipes in the coming years.
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