Overview of young quality inspector man checking production
line and testing quality of steel pipe coils at warehouse section in cable
factory. XXXL
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This collaboration is
expected to bolster trade between China and the GCC countries
METALSCOMMODITIESMANUFACTURINGUAEGCC COUNTRIESCHINA (PRC)BELT AND ROAD INITIATIVETRADE
Conares, the
second-largest private steel manufacturer in the UAE, has officially announced
a partnership with C&D, a Fortune Global 500 company focused on supply
chain operation services and real estate development based in the city of
Xiamen, China. This groundbreaking collaboration will empower the Chinese
corporation to distribute high-quality steel from China in the GCC region,
strengthening trade ties between them.
The official signing of the partnership took
place at Conares’ steel plant in the Jebel Ali Free Zone (JAFZA) in Dubai.
Zheng Yongda, general manager of Xiamen C&D Corporation Limited &
Deputy Party Secretary and Bharat Bhatia, Chairman and CEO of Conares, was also
present, accompanied by other distinguished guests and senior executives from
Conares.
Bhatia said: “ This collaboration represents a
significant milestone for both Conares and C&D, as we leverage our
respective strengths to foster economic growth and enhance trade relations. By
combining Conares’ expertise in steel manufacturing with Chinese steel, known
for its exceptional quality, stable quantity and wide variety we aim to cater
to the rising demand for steel products in the GCC market.”
Yongda added: “Our new partnership with Conares
is invaluable to us and we look forward to working with them to expand the
distribution of Chinese steel in the GCC region. This collaboration signifies a
new chapter of cooperation between C&D and the UAE, and we are confident
that our high-quality steel products will contribute to the development and
growth of various industries in the region.”
The partnership will provide the GCC region
with access to a wide range of top-grade Chinese steel products, meeting the
growing requirements of various industries, including construction,
infrastructure development, and manufacturing. This collaboration is expected
to bolster trade between China and the GCC countries, facilitating a seamless
exchange of goods and services.
The GCC region has witnessed remarkable growth
in recent years, driving the demand for steel products to new heights. The
partnership with C&D enables Conares to expand its product portfolio and
ensure a steady supply of high-quality Chinese steel to meet the region’s
evolving needs.
Later, speaking to Khaleej Times, Yongda said
that C&D’s parent company has been here for over 10 years. “Dubai is the
transit point for not just the GCC countries, but the Middle East and African
countries. The policies in the free zones in the UAE are the best in the region
and we are keen to expand here,” he added.
Bhatia said C&D will be supporting Conares
to promote Chinese goods, particularly Chinese hot roll coils, which will help
its to expand our production capacity. “C&D will also support our trading
business and will use our steel service centre with a capacity of half a
million tonnes. We also aim to expand our production capacity, which will be
financed by C&D. We, as Conares, have a vision to build green steel and
through this MoU, we aim to align together with C&D and market both brands
together and cater to this region.”