Big player extends Belt and Road plan by tying in strategic JAFZA
Chinese steel manufacturer Masteel is to establish ‘Masteel Middle East’ in Jebel Ali Free Zone (Jafza), Dubai.
Jafza is becoming increasingly popular with foreign companies as a leading free zone in the Middle East and globally.
Masteel Middle East is planning to grow its export market for commodities such as hot rolled steel, section steel and cold rolled steel.
It is also looking to expand its exportation of and pre-painted galvanised iron and galvanised iron products.
CEO of DP World UAE Region and CEO of Jafza, Mohammed Al Muallem, said: “On ehalf of DP World, we congratulate our valued partner Masteel on its success.
“We look forward to this exciting chapter that will build stronger trade ties between our two countries for mutual prosperity for our people.
“The inauguration of this new facility is a testament to Jafza’s value proposition for large companies and reflects our position as a leading driver of economic diversification.”
Qian Haifan, General Manager of Masteel, said: “In recent years by taking inspiration from the Belt and Road initiative and Globalisation of China, we have focused on promoting the progress of its international operations.
“On the one hand, we are systematically optimising the layout of the global market... On the other hand, while strengthening the export of steel products by integrating Masteel overseas resources and operations, we have promoted our overseas business including import and export of steel and raw materials, deep processing and financing, and much more.”
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