GCC countries are investing $18 billion to build 46 new steel plants as part of an effort to plug a supply gap threatening Gulf production, according to organisers of a regional manufacturing exhibition. The investment comes as demand for building materials needed to fuel the region’s booming construction industry has skyrocketed, with the soaring price of steel and cement threatening to derail major projects."In the race to plug the supply gap a swathe of new steel plant projects as well as expansions to existing plants have been unveiled across the region with huge potential business opportunities for industry stakeholders," Spencer Felix, exhibition manager of the Middle East Manufacturing Exhibition (Memex), said in a statement.
Click here to display full article
Copyright 2008, by
ArabianBusiness
. All rights reserved
Al Qudra chairman replaced
Metro Cash & Carry to debut in Egypt 