The steel, metal and construction materials division in Jebel Ali Free Zone (JAFZA) has observed a development of 8% in the number of firms in the first six months of 2015.
The chairman of DP World and chairman of Ports, Customs and Free Zone Corporation, Sultan Ahmed bin Sulayem stated that the steel and construction materials division in JAFZA created business of Dh13.6 billion in 2014. The segment’s development considers the JAFZA’s potency as a local and international centre for construction materials.
He also averred that to give further enhancement to the industry, JAFZA has increased an enthusiastic 1.1 million square metre steel and building material zone in JAFZA South. Thirty FIRMS are already working from this dedicated industry group.
He also mentioned that Dubai Ports, Customs and Free Zone Corporation aids the steel and construction materials business through their facilities and services. The industry plays a significant function in enabling the economy to obtain persistent progress.
The chief operation officer of Economic Zones World, the parent company of Jafza, Talal Al Hashimi, stated in an interview that the construction industry in the region is strong regardless of challenging market situations. Main projects presently in progress in the GCC are assessed at Dh1.2 trillion. These projects recommend large opportunities for JAFZA-based corporations. World Expo 2020 related projects will further speed up demand for steel and construction materials.
JAFZA was housed to 838 firms in the metal, steel and construction material sectors, which comprised top multinationals including as Sumitomo Corporation, Nippon Steel, ArcerolMittal, Tata Steel, Baosteel, Itochu, Makita and CNBM.
With regards to segment breakdown, 54% of the firms in JAFZA are trading in construction metals, 36% metal and steel and the other 10% interior and furniture.
Follow me at twitter : https://twitter.com/AdgecoGroup