Emirates Steel posts a revenue of Dh6.6bfor 2017

Abu Dhabi: Emirates Steel posted a revenue of Dh6.6 billion for 2017, up 22.2 per cent compared to Dh5.4 billion in 2016, the firm’s CEO said in Abu Dhabi.

Production capacity increased to more than 3.2 million tonnes by the end of 2017.

Saeed Al Remaithi said the company exports 9 per cent of its total exports to the US and could be impacted by the proposed tariff on steel imports by the US.

“We have left it to the government to deal with the issue.”

The company is also ready for privatisation but any decision will be taken by the government.

Emirates Steel is also looking for new markets, he said.