SAFEEN Signs AED1 Billion Agreement with Emirates Steel
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 Chief Executive Officer of Emirates Steel, Eng. Saeed Ghumran Al Remeithi, and Captain Mohamed Juma Al Shamisi, Chief Executive Officer 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.
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.
Speaking about the agreement, Eng. Jamal Salem Al Dhaheri, CEO of SENAAT, said: "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.”
Eng. Saeed Ghumran Al Remeithi, the 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.”
Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said: “This strategic agreement highlights Emirates Steel and Abu Dhabi Ports’ commitment to reinforcing Abu Dhabi’s position as a global industrial hub and contribute to building a sustainable, diversified economy.
“We are delighted that Emirates Steel has chosen Abu Dhabi Ports to provide marine shipping services, and we will continue to leverage Safeen’s expertise to provide world-class services and solutions.”
Captain Adil Banihammad, Acting CEO – Marine Services, Abu Dhabi Marine Services – SAFEEN, said: “The agreement with Emirates Steel is one of our biggest and most significant deals to date. SAFEEN will be expanding its portfolio of services by offering lighterage for the first time, complementing other maritime and quayside-support services.
“We see huge demand, especially in the Gulf, for the marine shipping sector. We are proud to continue addressing the market’s demand by providing world-class integrated marine and port services.”