New Delhi: State-owned steel maker Steel Authority of India (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.
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.
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.
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