Building material, steel firms in Jafza up 8% in H1

Dubai - Sultan Ahmed bin Sulayem, chairman of DP World and chairman of Ports, Customs and Free Zone Corporation, said the steel and construction materials sector in Jafza generated business of Dh13.6 billion in 2014.

The metal, steel and construction materials sector in Jebel Ali Free Zone (Jafza) has seen a growth of eight per cent in the number of companies in the first half of 2015.
Sultan Ahmed bin Sulayem, chairman of DP World and chairman of Ports, Customs and Free Zone Corporation, said the steel and construction materials sector in Jafza generated business of Dh13.6 billion in 2014. The sector's growth reflects the Jafza's strength as a regional and global hub for construction materials.
Bin Sulayem said: "To provide further boost to the sector, Jafza has developed a dedicated 1.1 million square metre steel and building material zone in Jafza South. Thirty companies are already working from this dedicated industry cluster."
He added that Dubai Ports, Customs and Free Zone Corporation supports the steel and construction materials industry through their facilities and services. The sector plays an important role in enabling the economy to achieve sustained growth.
Talal Al Hashimi, chief operation officer of Economic Zones World, the parent company of Jafza, said: "The construction sector in the region is resilient despite challenging market conditions. Major projects currently under way in the GCC are valued at Dh1.2 trillion. These projects offer huge opportunities for Jafza-based companies. World Expo 2020 related projects will further accelerate demand for steel and construction materials. We need to capitalise on these long-term prospects as best as possible."
Jafza was home to 838 companies in the metal, steel and construction material segments at the end of June 2015, which included top multinationals such as ArcerolMittal, Baosteel, Sumitomo Corporation, Tata Steel, Itochu, Nippon Steel, Makita and CNBM.
In terms of segment breakdown, 54 per cent of the companies in Jafza are dealing in construction metals, 36 per cent metal and steel and the remaining 10 per cent interior and furniture.
- business@khaleejtimes.com