Ikigai Steel FZE has officially announced that it plans to establish a new 548,000 square foot facility in the Hamriyah Free Zone in Sharjah in the UAE. It is anticipated that production will start in March 2024. The facility will be equipped with a state-of-the-art plant and equipment, providing cutting edge technologies and high-end solutions.
According to the new factory's specifications, the initial investment is estimated to be around AED 30 million with the goal of targeting customers and suppliers in the local, regional and global markets, especially given that the factory will be outfitted with the most advanced global solutions and technologies in the iron and steel industry sector.
"We look forward to manufacturing high-quality steel and steel products for the local and regional markets, including Saudi Arabia and Qatar. Initially, the company plans to employ approximately 500 people, focusing on producing top-tier steel and steel products," said Rajendran, chairman of the Ikigai Steel.