Mitsui & Co. established steel structure making joint venture with South Korean major steel structure fabricator in United Arab Emirates (UAE) to serve plant manufacturers. The firm with 36,000 tonnes of annual fabricating capacity will start the commercial operation in September. Mitsui & Co. tries to expand the business in growing Persian Gulf countries through the UAE base. The joint venture based in economic free zone of UAE. Mitsui & Co. has 40% interest in the joint venture with around 490 million yen of capital. They already started the building works for initial 1.08 billion yen on 150,000 square meters of land. The first phase uses the half of the land and they will expand the plant depending on the demand. The joint venture is to serve design, manufacture and sales of steel structure for plants including oil refinery, liquid natural gas plant and chemical plant, not for building structure. The firm supplies the structure with imported H-beam for plants projects by Japanese and South Korean plant makers.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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