Maanshan Iron and Steel (Masteel), a Chinese steel manufacturer, has formally established Masteel Middle East FZE in Jebel Ali Free Zone (Jafza), Dubai, UAE
Qian Haifan, general manager of Maanshan Iron and Steel, and Ahmad Al Haddad, chief operating officer, parks and zones, DP World, UAE region, jointly inaugurated the facility, said a company statement.
Masteel Middle East FZE (Masteel ME) is a subsidiary wholly owned by Masteel, mainly engaged in the export of all kinds of steel products of Masteel in the Middle East and North Africa (MENA).
Masteel ME is expanding the export market mainly for hot rolled steel, section steel and cold rolled steel, and PPGI (pre-painted galvanised iron) and GI (galvanised iron) products, as well as the shafts market, according to the statement.
Mohammed Al Muallem, CEO and managing director, DP World, UAE region and CEO of Jafza, said, ?On behalf of DP World, we congratulate our valued partner Masteel on its success. We look forward to this exciting chapter that will build stronger trade ties between our two countries for mutual prosperity for our people. The inauguration of this new facility is a testament to Jafza?s value proposition for large companies and reflects our position as a leading driver of economic diversification.?
As its next step, Masteel ME plans to integrate into the local market as soon as possible to implement the requirements of customers, actively responding to the important measures advocated in the Belt and Road Initiative (BRI) of China, servicing BRI projects in the UAE and the Middle East market, it said.