Emirates Steel signs AED 1-bn marine services agreement with Abu Dhabi Ports
Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (SENAAT), has signed a strategic agreement with Abu Dhabi Marine Services (SAFEEN), a subsidiary of Abu Dhabi Ports, which has been valued at AED 1-billion.
The agreement was signed by the CEO of Emirates Steel, Saeed Ghumran Al Remeithi, and Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, in the presence of Captain Adil Banihammad, acting CEO – Marine Services, Abu Dhabi Marine Services – SAFEEN, and a number of senior officials and engineers from both parties.
The agreement, which will be implemented in January 2021 and will extend over the following ten years, is the result of Emirates Steel’s commitment to both providing high quality products, and optimising its supply chain in accordance with international standards.
Such aims fall in line with Emirates Steel’s efforts to support Abu Dhabi Economic Vision 2030.
SAFEEN will provide short marine shipping services for three shipments of iron ore per month. Additionally, SAFEEN will be responsible for the purchase, rental, delivery, operation and maintenance of cargo ships, trailers and unloading equipment for Emirates Steel.
“We are delighted to have signed this agreement between Emirates Steel and Abu Dhabi Ports, which reflects our ongoing commitment to home-grown entities working together and their keenness to build strategic partnerships that contribute to supporting the economy of Abu Dhabi and the UAE in general,” said Jamal Salem Al Dhaheri, CEO of SENAAT.
Saeed Ghumran Al Remeithi, CEO of Emirates Steel, said: “Emirates Steel continues to seek to enhance its production capabilities in Abu Dhabi, and the signing of this agreement falls in line with such a commitment. Through this agreement we have ensured the best shipping services for our cargo in order to continue to improve our production capacity in Abu Dhabi.”
“This agreement is the result of a joint effort that has lasted over a year and it reflects the spirit of cooperation between the two national companies. The signing of this agreement with Abu Dhabi Marine Services Company comes following a tendering process, which attracted a diverse and international range of industry leaders,” he added.