New steel plant to be established in UAE
The Gulf Investment Corporation (GIC), a business company owned by member states of the Arab Gulf Cooperation
Council (GCC) signed on Sunday a $200 million deal to establish a steel plant in the United Arab Emirates (UAE).
According to SPA, the plant, to go on line by the start of 2007, will produce 90,000 tons of various sizes of stainless steel, GIC chief executive officer Hisham Razzuqi said in a press statement. (menareport.com)
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