Khalifa Economic Zones Abu Dhabi (KEZAD Group), the integrated trade, logistics, and industrial hub of Abu Dhabi, has signed a preliminary agreement with Dana Steel, the flagship manufacturing unit of industrial conglomerate Dana Group, in order to establish its first hot and cold rolling steel complex in the emirate.
Under the terms of the agreement, Dana Steel will invest to develop a 50,000 square meters facility in KEZAD. The new complex will facilitate backward integration of the company’s continuous galvanizing and continuous color coating lines and will have a 500,000 Metric Tons Rolling Capacity.
According to the statement, this approach will help boost Dana Steel’s manufacturing capacity in the GCC by replacing imported raw materials, such as cold rolled full hard coils, with a new ‘Made in UAE’ supply.
“Owing to the modern infrastructure and efficient transportation network offered by KEZAD and Khalifa Port, investors such as Dana Steel are selecting our industrial ecosystem as a base from which to grow their operations in the UAE and globally. By enabling vertical integration of their manufacturing supply chain, we look forward to supporting Dana Steel on its journey to serve customers and expand its international reach.”
Dr. Ankur Dana, CEO of Dana Steel Industry, said that, “With worldwide demand for quality steel products set to grow, we are quite excited to start this milestone project in KEZAD, which builds upon our efforts to enhance value for our customers across continents.”
“This project will be our 9th Industrial Facility within the UAE, several unique factors led us to choose KEZAD for this venture including the world-class infrastructure on offer, in addition to seamless connectivity to global markets and easy access to natural gas at competitive rates,” Dr. Dana added.
The agreement with KEZAD Group will mark Dana Steel’s first venture in Abu Dhabi while ushering in the first Hot Rolled Pickled Oiled (HRPO) and Cold Rolled (CR) steel facility in KEZAD.