DJ reported that the Abu Dhabi government owned Emirates Steel Industries is seeking partners for USD 1.5 billion rolling mill that will have annual production capacity of between 350,000 tonnes and 500,000 tonnes.
Mr Jamal Al Dhaheri CEO of Abu Dhabi Basic Industries Corporation said that "At the moment, we are looking at a project of 350,000 tons to 500,000 tonnes with CAPEX of about USD 1.5 billion.”
He said that we are really seeking partners in trying do that. It's a massive investment. There is a lot of interest in this project; there is a lot of potential for further downstream besides the rolling mill.