VOL. XL

No. 6

10-February-1997

UAE

German Firm Awarded Letter Of Intent For Abu Dhabi Steel Plant

The General Industry Corporation (GIC) of Abu Dhabi has awarded SMS Schloemann Siemag of Germany a letter of intent, reportedly worth some $74mn, for the supply of machinery and equipment for a 500,000 ton/year steel plant to be built at Tawilah, 80 kms. north of Abu Dhabi town. The plant will cost around $100mn and its construction will take about two years from the date of signature of the...