SteelFab: the gathering point for fabrication units from across the region

SteelFab: the gathering point for fabrication units from across the region

New projects to fuel regional steel growth

01 November 2016

The recent announcements of new projects signal a steady flow of investments into sectors like infrastructure and manufacturing, which is in turn set to generate contracts for regional steel fabricators, said experts ahead of a trade event for the steel fabrication and metal working industry.

The 13th edition of SteelFab 2017 will be held at Expo Centre Sharjah from January 16 to 19. The event is once again set to become the gathering point for fabrication units from across the region and beyond, said the event organisers.

Some of the recent projects that will keep the order books of regional fabricators busy include the $3 billion worth of contracts for the construction of the UAE’s first nuclear energy plant, the $10-million contract to manage engineering, procurement and construction of the new gas and condensate pipeline of Kuwait Gulf Oil, and the $135-million contract to build a stadium for Qatar’s 2022 Fifa World Cup, they stated.

“Several new projects have been announced recently in infrastructure, pipelines, airports and industrial sector. With economic diversification becoming the crux of development strategy, the UAE and the rest of the region are also focusing on the non-oil sector to contribute to economic growth,” said Abdalla bin Sultan Al Owais, the chairman of Sharjah Chamber of Commerce and Industry and Expo Centre Sharjah.

The immediate beneficiary here is the core sector that propels the steel fabrication and metal working industry,” he stated.

The recovery in oil prices, though not as quick as expected, from below $30 a barrel to close to $50 also shows that the GCC has successfully withstood the difficult phase, and raises prospects for better economic growth and flow of funds into existing as well as new projects, remarked Al Owais.

Saif Mohammed Al Midfa, the chief executive of Expo Centre Sharjah, said the infrastructure and manufacturing sectors were looking positively at the recovery of oil prices, along with new policies and guidelines being announced to inject fresh vigour into the non-oil sector.

“They are also expecting investments from upcoming mega events like Expo 2020 and Fifa World Cup 2022, preparations for which have gathered pace,” he noted.

With passenger traffic expected to grow at a fast pace, the GCC is pumping in $100 billion into airport expansion and construction projects, including the $4.34 billion contract to build the new terminal at Kuwait International Airport.

The $116 million development of Almarkaz light industrial real estate project, the launch of the second phase of Khalifa Industrial Zone Logistics Park – non free zone warehousing and opening of Renault Trucks in Saudi Arabia also signifies continued growth and work for steel contracting in the region, he stated.

“Steel fabricators can be assured of a steady rise in requirements from different sectors,” stated Al Midfa.

“SteelFab will help them explore and acquire cutting-edge equipment, advanced technologies, new products and applications for all their metal forming, fabricating, welding and finishing needs,” he added.

Providing a comprehensive sourcing platform, the 13th SteelFab 2017 will feature a vertical – Fasteners World Middle East, special focus areas such as Welding & Cutting, Metal Cutting & Machine Tools, Tube & Pipe, Stainless Steel, and Wear Resistance & Hard Facing, foreign pavilions, seminars and technical presentations and live displays.

It will showcase machinery and equipment in metal forming, surface preparation and finishing, grinding and cutting, machining and other allied engineering disciplines, he added.

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