This amounts to a staggering investment value of USD 9.5 billion.
The Sojitz Corporation Steel Plant is the Fujairah project at a cost of USD 1 billion. This is a plant that will turn iron ore pellets into steel billets with a capacity of 1.5 million tonnes a year.
To read more about the top ten steel projects planned for the GCC countries follow this link:
SteelGuru News, 20 May 2008.
Dr. Geoff Pound
Image: Steel billets.