ADFD in strategic partnership with EMSTEEL Group to support national industries

 In line with Abu Dhabi Fund for Development’s (ADFD) commitment to strengthening strategic partnerships with leading Emirati companies, a delegation from the Abu Dhabi Exports Office (ADEX), the export financing arm of ADFD, visited EMSTEEL Group (formerly known as Emirates Steel Arkan). The visit aimed to highlight the support and benefits provided by ADFD and ADEX to enhance national exports and improve their global competitiveness.

Led by His Excellency Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office, the delegation included Rashid Mohammed Al Kaabi, Director of the Investment Department at ADFD; and Khalil Fadhel Al Mansoori, Director General of ADEX. The delegation was received by Engineer Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, and other officials.

The delegation toured Emirates Steel, a subsidiary of EMSTEEL, to learn about its role in the UAE’s industrial development through the production of iron, steel, and construction materials. EMSTEEL also shared its strategic expansions and contributions to the national economy and industrial sustainability. Meanwhile, Abu Dhabi Exports Office highlighted its financial solutions and credit facilities, which help Emirati companies reach international markets.

H.E. Mohamed Saif Al Suwaidi commended Emsteel Group’s significant contribution to the development of the industrial sector in the country. He emphasized that this visit presents an ideal opportunity to strengthen our partnership with the largest UAE companies in the steel and iron industry.

His Excellency added, "We are intensifying our efforts to provide essential support to national institutions operating in vital sectors. We recognize their crucial role in achieving the nation’s policy aimed at sustainable economic diversification. ADEX will continue to provide financial solutions to open new horizons that contribute to strengthening the presence of our Emirati industries in global markets, thereby supporting the growth of our national economy."

Engineer Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, commented on the significant role that EMSTEEL plays in supporting the UAE’s overall growth strategy, adding: “We are confident in our ability to achieve our vision of becoming one of the best steel manufacturers globally, providing products, services and solutions to build a better world. We also remain committed to contributing to the UAE's industrial strategy ‘Operation 300 billion’, as our products continue to be featured across the UAE’s landmarks, including Burj Khalifa, Guggenheim, and the Barakah Nuclear Energy Plant. Our ongoing support for the UAE’s sustainability goals have also materialized in our consumption of 80% of our energy from clean sources, in line with the UAE’s Net Zero 2050 Strategy. We look forward to continuing to work with our partners across the ecosystem to achieve joint goals and promote a sustainable future aligned with national ambitions.”

Both parties emphasized the need to collaborate in enhancing UAE’s position as a global hub of advanced industries. This collaborative effort aims to drive sustainable development of the national economy, with a goal to double the industrial sector’s contribution to the GDP.