The United Arab Emirates’ (UAE) largest steel producer and market leader EMSTEEL has launched its Asset Enhancement Program with a capex of approximately AED 625 million ($170.2 million), to boost production capabilities and introduce innovative steel solutions to meet increasing demand, according to media reports.
In the first phase of the program, the company will upgrade its existing rolling mills and expand its product portfolio with the launch of high-strength rebars and heavy-section products. The company’s ES600, ASTM Grade 80, and ASTM Grade 100 rebars will contribute to decarbonizing the construction industry by lowering steel consumption and reducing the overall carbon footprint.
Besides, in the second phase, EMSTEEL will install a new wire rod line with an annual capacity up to 500,000 mt and will upgrade the cooling conveyor at the existing rolling mills. These enhancements will enable the production of value-added and high value-added wire rods and high-tensile rebar in coil.
Meanwhile, the company has unveiled its ambitious decarbonization strategy. EMSTEEL aims to achieve a 40 percent reduction in greenhouse gas emissions in its steel business unit by 2030 compared to 2019, with the ultimate goal of reaching net-zero emissions by 2050.