New direct reduced iron plant from UAE firm Al-Ghaith
According to reports from the industry, Al-Ghaith signed a memorandum of understanding with US company Midrex for
construction of a direct reduced iron plant in the United Arab Emirates with a capacity of min. 500'000 tons per annum.
Production which includes HBI and billets, will launch within two years and be export oriented as shortage is seen in the
UAE and
Middle East due to
construction projects. Besides, following price hikes in
scrap and raw materials for electric arc furnaces, now there is a certain demand for direct reduced iron.