Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."


Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap

Emirates Steel eyes Expansion into Iraq

Post new topic   Reply to topic

Go down

Emirates Steel eyes Expansion into Iraq

Post  claud39 on Wed Dec 12, 2018 9:11 am

http://www.iraq-businessnews.com/2018/12/12/emirates-steel-eyes-expansion-into-iraq/



Emirates Steel eyes Expansion into Iraq




12th December 2018 in Construction & Engineering In IraqIraq Industry & Trade News

By John Lee.
Abu Dhabi-based Emirates Steel is reportedly considering expansion into Iraq.
Chief Executive Saeed Al Remeithi told The National:
We’re always looking at new markets, one of which we are targeting now is Iraq …
“Iraq is a big growth market for us, and from the logistics point of view it is very big. We have seen right now Iraq is more stabilised than in the past few years and we have already started on the market.
The company, which is part of Senaat, is currently in the middle of a refinancing programme.
(Source: The National)

claud39
VIP Member
VIP Member

Posts : 2502
Join date : 2018-11-04

View user profile

Back to top Go down

Emirates Steel sees expansion into Iraq amid tense metals market

Post  claud39 on Wed Dec 12, 2018 9:16 am

https://www.thenational.ae/business/economy/emirates-steel-sees-expansion-into-iraq-amid-tense-metals-market-1.801659

[size=44]Emirates Steel sees expansion into Iraq amid tense metals market[/size]

The Abu Dhabi-based producer is currently in the middle of a refinancing programme

December 11, 2018


There had been no direct impact on UAE steel due to US tariffs, but the global market is facing headwinds, said Mr Al Remeithi. Leslie Pableo for The National




Emirates Steel, one of the UAE’s largest non-oil companies, is eyeing expansion into Iraq following rebuilding efforts as it looks to diversify into newer economies amid a cooling global market for the metal.
"We’re always looking at new markets, one of which we are targeting now is Iraq. [Also], Syria, Yemen, for rebar, wire rod and sections," said Emirates Steel chief executive Saeed Al Remeithi. "Iraq is a big growth market for us, and from the logistics point of view it is very big. We have seen right now Iraq is more stabilised than in the past few years and we have already started on the market.”
Emirates Steel, which is a unit of Abu Dhabi industrial holding company Senaat, is currently in the middle of a refinancing programme. The entity’s parent on Sunday listed a $300 million sukuk, part of a $3 billion programme to refinance some of its debt.
Mr Al Remeithi declined to comment on the company’s refinancing programme, noting that an announcement was due very soon on its plans to raise more debt.
He also said there was “nothing concrete yet” on the UAE’s plans to procure waivers against the imposition of a 25 per cent tariff on steel by the US administration. President Donald Trump also added a 10 per cent levy on imported iron as he sought to crush what he saw as “dumping of steel” from manufacturers in China. Imposition of tariffs against metals, including $267 billion (Dh980.7bn) worth of Chinese goods and doubling of levies on Turkey's steel and aluminium exports, has led to a global slump in the base metals market.
“The [impact] is global and I don’t think we’re immune from it, but we have 40 markets where we sell our products, and we have already obtained certifications for those markets and we’re operating there and we have an advantage over so many steel producers in the region,” said Mr Al Remeithi.
He dismissed concerns of a direct impact on sales, noting that the US, which accounts for 5 per cent of Emirates Steel’s exports, has not suffered from any shrinking of market share.



claud39
VIP Member
VIP Member

Posts : 2502
Join date : 2018-11-04

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You can reply to topics in this forum