United Arab Emirates-based steel producer Emirates Steel Arkan (ESA) has announced that it has signed a memorandum of understanding with the Abu Dhabi Department of Economic Development and Japan-based ITOCHU Corporation to establish a first-of-its-kind low-carbon iron production complex in Abu Dhabi.
The complex will play a significant role in the global supply chain for low-carbon iron and will contribute towards achieving the UAE’s Net-Zero 2050 strategic initiative.
“This collaboration, with the support of the Abu Dhabi Department of Economic Development, will ultimately enable us to capture and meet the growing demand for environmentally friendly steel products while strengthening the UAE’s sustainable industrial ecosystem,” Saeed Ghumran Al Remeithi, CEO of ESA, said.