Saeed Khalfan Al Ghafri, CEO of Emirates Steel, a subsidiary of the Emsteel Group, has announced plans for a groundbreaking project to produce low-carbon iron in Abu Dhabi in partnership with Japanese collaborators. The initiative aims to address the growing global demand for sustainable and eco-friendly products, reported Zawya.
In statements to the Emirates News Agency (WAM) on the sidelines of the Fastmarkets Middle East Iron & Steel 2024, held in Dubai from 18th to 20th November, Al Ghafri explained that the project is currently in the feasibility study phase with partners and commercial production is not expected before 2027.
He noted that the project represents a strategic expansion for the company both locally and globally. The company is committed to developing innovative technologies that help reduce its products’ carbon footprint.
Al Ghafri also discussed the Green Iron project using hydrogen as a clean energy source, adding that it is still in experimental stages, with efforts to improve technical aspects and reduce costs.
He added, “In partnership with Masdar, we are focusing on a feasibility study and future expansion to make this project accessible to everyone.”
He emphasized that Emirates Steel aims to embrace the future by prioritizing innovation and sustainability and not just merely increasing its current output of approximately 3.5 million tonnes of steel and iron. The cost of new innovations will be initially high but is expected to be reduced over time with expanded production, with the product being more accessible.
The carbon capture steel project was launched by Emirates Steel in 2017, and the company successfully captured around 800,000 tonnes annually of carbon dioxide, which is utilized for oil well injection.
Emirates Steel is not only focused on meeting local demand but also enhancing its position in global markets through sustainable strategies and international partnerships.