Posted on 04 Mar 2015
Tokyo --- JFE Steel Corporation, Marubeni-Itochu Steel Inc. (MISI) and Senaat GHC, (an investment company wholly owned by the government of the Emirate of Abu Dhabi), announced today that they have agreed to establish a joint-venture company in Abu Dhabi, called Al Gharbia Pipe Company, to manufacture and sell large-diameter welded steel pipes, mainly for the energy industry.
The new company, leveraging JFE Steel's technology for high-quality large-diameter welded steel pipes, MISI's sales capabilities and Senaat's industrial footprint in Abu Dhabi, will manufacture and sell high-grade large-diameter steel pipes to energy companies in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, the six member countries of the Gulf Cooperation Council (GCC).
JFE Steel will participate in the joint venture under the Abu Dhabi-Japan Business Promotion Initiative of the Japan CooperationCenter for the Middle East. The initiative supports Japanese companies that invest in projects to strengthen ties between the two countries.
| Al Gharbia Pipe Company | ||||||||
| Location: | Khalifa Industrial Zone of Abu Dhabi (KIZAD) | |||||||
| Establishment: | April 2015 | |||||||
| Total investment: | Approximately USD 300 million | |||||||
| Ownership: |
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| Products: | Large-diameter steel pipes to transport oil and gas | |||||||
| Capacity: | Approximately 240,000 tons/year | |||||||
| Employees: | Approximately 370 (planned) | |||||||
| Production start: | October 2018 (planned) |
