Latest news with #RAK-based
Time of India
04-07-2025
- Business
- Time of India
After NMDC and MECON, steel maker SAIL opens office in Dubai to boost global presence
State-owned steel maker SAIL has set up an office in Dubai with an objective to tap opportunities in the emerging markets, an official statement said on Friday. The company is the third public sector unit under the Ministry of Steel to have opened its overseas office in Dubai. SAIL has inaugurated its Representative Office in Dubai. It is SAIL's first international office in the Middle East and marks a significant step in its global expansion strategy, the ministry said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Looking For Wedding Dresses? Explore Beautiful Options And See Costs Now! Wedding Dresses | Search Ads Learn More Undo The office was inaugurated by Union Minister of Steel and Heavy Industries H D Kumaraswamy on Thursday in the presence of the Consul General of India to Dubai Satish Kumar Sivan, SAIL CMD Amarendu Prakash and other senior ministry officials. Positioned as a strategic hub, the Dubai office will help SAIL boost steel exports, deepen industry linkages, and reinforce India-UAE trade ties, the ministry said. Live Events Dubai's role as a gateway to the Middle East and North Africa (MENA) region and its investor-friendly environment make it an ideal base for expanding into emerging markets. It marks a significant milestone in SAIL's evolution into a globally competitive steelmaker and reflects India's growing profile in the international steel arena, the statement said. As per the steel ministry, SAIL, one of India's largest steel producers, sources approximately 2.5 million tonnes of limestone annually from RAK-based Stevin Rock LLC, with future procurement set to rise as part of SAIL's capacity expansion from 20 to 35 million tonnes per annum. Earlier this week, the minister inaugurated offices of NMDC and MECON in Dubai. Steel Authority of India Ltd (SAIL) is among India's top four steel manufacturing players having a capacity of over 20 million tonnes per annum.
Time of India
01-07-2025
- Business
- Time of India
India, UAE's Ras Al Khaimah explore strategic ties in steel and mineral supply
Union Steel Minister H D Kumaraswamy and Saud Bin Saqr Al Qasimi, the ruler of Ras Al Khaimah (RAK), one of the seven emirates of the UAE, held discussions in Dubai on strategic cooperation in the steel and mineral sectors. Talks included securing long-term access to low-silica limestone from the UAE and exploring collaboration in green steel production . The minister was in Dubai on Monday to inaugurate the overseas offices of MECON and NMDC, two public sector enterprises under the steel ministry. The two sides also discussed prospects in green hydrogen, trade partnerships through value-added steel exports from India, and setting up calcined lime production units using RAK's limestone and natural gas. There was also a focus on enhancing engagement through Central Public Sector Enterprises (CPSEs) such as SAIL, NMDC, and MECON. According to the steel ministry, SAIL currently sources about 2.5 million tonnes of limestone annually from RAK-based Stevin Rock LLC. This volume is expected to rise in line with SAIL's planned capacity expansion from 20 to 35 million tonnes per annum. Kumaraswamy invited RAK to explore further collaborations in infrastructure, energy components, and raw material supply chains. "India views steel not just as a material, but as the backbone of our infrastructure, mobility, energy, and manufacturing sectors. Ras Al Khaimah's mineral wealth, industrial potential, and clean energy focus make it an ideal partner for India's next-generation steel and resource strategy," the minister said. CPSE presence in Dubai to strengthen global links Commenting on NMDC's new Dubai office, Kumaraswamy said it would help the company pursue mineral asset acquisitions, enter strategic joint ventures, and diversify the sourcing of steel-grade limestone, dolomite, and other key minerals for India's energy and manufacturing sectors. He said Dubai's location at the intersection of Asia, Africa, and Europe would support NMDC in building international mineral supply chains linked to Indian industry. MECON's operations will focus on industrial project planning and execution, infrastructure design in oil and gas, consultancy for steel plant feasibility and expansion, strategies for green steel and decarbonisation, and use of smart manufacturing and digital technologies.
