Abu Dhabi: Engineer Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, revealed that the group has contributed approximately AED6.2 billion to the Gross Domestic Product (GDP) of the Emirate of Abu Dhabi.
According to Emirates News Agency, Al Remeithi made these statements on the sidelines of the 'Make it in the Emirates 2025' event. He stated that the group currently holds a significant share of the UAE's industrial output, contributing 10% to the total non-oil manufacturing sector in Abu Dhabi and commanding 60% of the steel market across the country.
He emphasized the group's commitment to developing the industrial ecosystem in the UAE. Al Remeithi highlighted that EMSTEEL has emerged as one of the main supporters of the National In-Country Value (ICV) Programme. In 2024, the group allocated more than AED3.5 billion to local procurement, collaborated with over 1,365 local suppliers, and directed 48.2% of its total procurement spending to domestic companies.
Regarding market performance, Al Remeithi noted that the steel market in the UAE witnessed growth exceeding 20% last year. This growth is expected to continue at a rate of over 10%, driven by major projects, especially in the energy and infrastructure sectors.