GCC Industry Report - GulfBase GCC Industry Report 6 Aluminum in the GCC While most of the GCC countries

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  • Manufacturing the Future...

    GCG Research

    GCC Industry Report

    January 2008

  • Gulf Capital Group (DIFC) Limited

    Dubai International Financial Center

    Registered Office – Offices 5 & 6, Level 4, Precinct Building 3,

    P O Box – 214851, Dubai, UAE

    Tel: +971 4 363 5730 Telefax: +971 4 363 5739

    Website: www.gulfcapitalgroup.com

    Email: research@gulfcapitalgroup.com

    GCG is regulated by the Dubai Financial Services Authority

  • INTRODUCTION...........................................................................................................................1

    A building here, a building there .......................................................................................................... 1

    Chemicals & Plastics – Being smart about oil ..................................................................................... 1

    Market Dynamics................................................................................................................................... 2

    Future Projects ...................................................................................................................................... 2

    ALUMINUM ...................................................................................................................................3

    Production Shift..................................................................................................................................... 4

    Aluminum Facts .................................................................................................................................... 5

    Aluminum in the GCC........................................................................................................................... 6

    Raw Material Procurement............................................................................................................................8

    Popularity of Extruded Products ...................................................................................................................8

    GCC Aluminum Projects................................................................................................................................9

    United Arab Emirates...................................................................................................................................11

    Bahrain .........................................................................................................................................................14

    Qatar .............................................................................................................................................................16

    Oman.............................................................................................................................................................18

    Kuwait ...........................................................................................................................................................20

    STEEL ...........................................................................................................................................24

    The History of Steel ............................................................................................................................. 24

    Global Production ............................................................................................................................... 26

    Steel in the GCC .................................................................................................................................. 28

    Reinforcement Bars- Strong Demand .........................................................................................................29

    United Arab Emirates...................................................................................................................................31

    Bahrain .........................................................................................................................................................34

    Qatar .............................................................................................................................................................36

    Kuwait ...........................................................................................................................................................39

    Saudi Arabia .................................................................................................................................................41

    CEMENT.......................................................................................................................................44

    Cement Facts ....................................................................................................................................... 44

    Global Cement Production.................................................................................................................. 46

    Cement in the GCC.............................................................................................................................. 47

    GCC Cement Projects...................................................................................................................................47

    United Arab Emirates...................................................................................................................................50

    Bahrain .........................................................................................................................................................53

    TABLE OF CONTENTS

  • Qatar .............................................................................................................................................................55

    Oman.............................................................................................................................................................57

    Kuwait ...........................................................................................................................................................59

    Saudi Arabia .................................................................................................................................................60

    CHEMICALS AND PLASTICS...................................................................................................64

    Chemicals and Plastics in the GCC .................................................................................................... 65

    United Arab Emirates...................................................................................................................................70

    Bahrain .........................................................................................................................................................73

    Qatar .............................................................................................................................................................75

    Oman.............................................................................................................................................................79

    Kuwait ...........................................................................................................................................................82

    Saudi Arabia .................................................................................................................................................85

    APPENDIX A – KEY COMPANY OVERVIEWS.......................................................................88

    Aluminum ............................................................................................................................................ 88

    Steel ...................................................................................................................................................... 94

    Cement ............................................................................................................................................... 110

    Chemicals and Plastics...................................................................................................................... 118

  • January, 2008

    GCC Industry Report 1

    INTRODUCTION

    Rampant construction activity and cheap energy are the factors driving industrial

    growth in the GCC. Oil revenues have enabled GCC countries to diversify their

    economies and strengthen their positions in a variety of sectors. The Industrial sector

    is one of the integral areas of diversification and this includes the aluminum, steel,

    cement, chemicals and plastics industries among others. As a result of ongoing

    regional construction activity, major construction materials such as aluminum, steel

    and cement are highly sought after in the GCC markets. Due to abundant oil and gas

    reserves the GCC states are also producing a variety of chemicals and plastics

    products.

    A building here, a building there

    The current an