The Arab Iron and Steel Union's (AISU) secretary general Mohamed Laid Lachgar has said that Arab countries' steel output is expected to reach 30 million metric tons by 2014, after new projects and expansions come on stream during the four coming years.
Speaking at the AISU General Assembly held in Algeria, Mr. Lachgar also said that steel demand in the region is expected to total 40 million metric tons by 2014, which means that Arab steel markets shall need 10 million metric tons of supply to bridge the expected supply-demand gap.
The AISU secretary general underlined the importance of providing raw material supply for the Arab steel industry, emphasizing the significance of utilizing iron ores available in some Arab states such as Mauritania among others.
Mr. Lachgar told his listeners that current investments in the steel industry and complementary facilities in Arab countries amount to $250 billlion and employment in this industry accounts for 37 percent of the total industrial workforce in these countries.