Chinese steel manufacturer, Maanshan Iron and Steel Co (Masteel), has announced that it has formally established Masteel Middle East in Jebel Ali Free Zone (Jafza).
Qian Haifan, GM of Maanshan Iron and Steel Co, and Ahmad Al Haddad, COO of Parks and Zones, DP World, UAE Region, jointly inaugurated the facility. Masteel Middle East is a subsidiary wholly owned by Masteel, mainly engaged in the export of all kinds of steel products of Masteel in the Middle East and North Africa. Recognising the dynamic characteristics of the Middle East market, and combining the advantages of its diverse high quality products, Masteel ME is expanding the export market mainly for hot rolled steel, section steel and cold rolled steel, and PPGI (pre-painted galvanised iron) and GI (galvanised iron) products, as well as the shafts market.
Mohammed Al Muallem, CEO and MD of DP World, UAE Region and CEO of Jafza, said: “On behalf of DP World, we congratulate our valued partner Masteel on its success. We look forward to this exciting chapter that will build stronger trade ties between our two countries for mutual prosperity for our people. The inauguration of this new facility is a testament to Jafza’s value proposition for large companies and reflects our position as a leading driver of economic diversification.”
Qian Haifan, GM of Masteel, said: “In recent years by taking inspiration from the Belt and Road initiative and Globalisation of China, Masteel has focused on promoting the progress of its international operations. On the one hand, Masteel is systematically optimising the layout of the global market. It has established branches in the US, Germany, Korea and Australia, having formed the overseas market and business distribution covering Asia, Europe, Oceania and America. On the other hand, while strengthening the export of steel products by integrating Masteel overseas resources and operations, we have promoted our overseas business including import and export of steel and raw materials, deep processing and financing, and much more.”
As its next step, Masteel ME plans to integrate into the local market as soon as possible to implement the requirements of customers, actively responding to the important measures advocated in the Belt and Road Initiative (BRI) of China, servicing BRI projects in the UAE and the Middle East market, facilitating Masteel products to grow deep roots in the regional market, and acting as the “bridgehead” for promoting Masteel’s international development strategies.