Emirates Steel, a leading integrated steel plant in the UAE, has announced its contribution to the national achievement of constructing the Barakah Nuclear Energy Plant, the first peaceful nuclear facility in the Arab World.

It had been a partner of the Emirates Nuclear Energy Corporation (ENEC) from the outset of the Barakah project some ten years ago up to the historic start-up of the first of its four reactors in early August.

The Emirates Steel had supplied 160,000 tonnes, equivalent to 60 per cent of the Q-class and S-class rebar material used in the construction of the plant.

Al Remeithi: ground-breaking projects

Besides, its specialised teams worked for two years with Enec’s dedicated business and industrial development team to ensure that the company’s quality assurance and production processes met the stringent global nuclear standards of construction.

On its contribution, CEO Saeed Ghumran Al Remeithi said: “We seek to engage collaboratively in such high profile and ground-breaking projects that contribute to the development of Abu Dhabi’s diversified economy.”

“We are proud to have been a key strategic partner with the Enec from the very beginning of the process to bring peaceful nuclear energy to the UAE, and have worked relentlessly to ensure the conformity of our products to global nuclear quality standards,” he stated.

In 2012, Emirates Steel obtained the Quality System Certificate for Nuclear Products, known as ‘Q Class’, from the American Society of Mechanical Engineers, which is a prerequisite for the products used in nuclear energy plant construction.

In 2013, the company delivered its first batch of rebar products to the Barakah plant project site.

CEO Mohamed Ibrahim Al Hammadi said: “The nuclear energy industry has some of the most stringent quality, technical and risk management standards in the world, and Emirates Steel is a shining example of the world-class standards that can be achieved by home-grown companies.”

“They have met and surpassed the continuous, rigorous and comprehensive evaluation processes required through the manufacturing process up to final delivery and installation at the project site,” observed Al Hammadi.

“By supporting the development of a new source of sustainable energy, we are not only contributing towards the UAE’s energy needs for decades to come but also contributing to its economic diversification and transition to a knowledge-based economy,” he added.

Signs up with ECI

Meanwhile, the steel major named Etihad Credit Insurance (ECI), the UAE’s Federal Export Credit Company, as its credit insurance partner to provide export credit protection to its global exports.

Emirates Steel has signed with ECI for a comprehensive trade credit insurance package, which will protect Emirates Steel against commercial risks of its customers such as insolvency, payment default, and political risks, a statement said.

Under the agreement, Emirates Steel can also leverage its credit insurance policy to obtain loans from banks, to further increase its funding capacity, it added.

Highlighting the federal export credit company’s commitment to the UAE’s diversified companies, Massimo Falcioni, CEO of ECI, said: “We are honoured to win this contract from Emirates Steel, and are resolved to providing an outstanding level of service in line with Etihad Credit Insurance’s highest standards. ECI’s support to Emirates Steel is a testament to our unwavering mission to boost the competitiveness of the UAE’s trade and export businesses as they compete in international markets. In increasing their volume of exports, we are also accelerating and sustaining national economic diversification.”

“ECI believes that as borders reopen following the Covid-19 closure, there are significant opportunities that businesses like Emirates Steel can explore in this new world. We are here to provide the relevant protection so that they can fully and seamlessly resume their operations and maintain their sales target,” added Falcioni.

Speaking about the agreement, Eng. Saeed Ghumran Al Remeithi, CEO of Emirates Steel, said: “We are delighted to have signed this agreement between Emirates Steel and Etihad Credit Insurance, which reflects the commitment of the home-grown organisations to work together and build strategic partnerships that contribute to supporting the economy of Abu Dhabi and the UAE in general.”

“Emirates Steel exports its manufactured products to more than 40 countries across the world, helping the UAE to position itself as a regional and global pioneer in producing high-quality steel products. This collaboration with ECI will significantly protect our exports against commercial risks,” added Eng. Al Remeithi.

Through its extensive network and information database of more than 360 million corporates worldwide, ECI can assist in advising Emirates Steel on available options and connect the company to alternative suppliers to sustain its trade operations in the international markets, in case of any disruption.