The MoU was signed at the opening session of the global investors' conference being held here.
The steel plant will have a capacity of 1.2 million tonnes per annum.
The Government of RAK also signed another MoU with the Dubai Islamic Bank for the establishment of a committee to diversify RAK's income resources. The Committee will assess and finance various projects. The MoU was signed by H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, and Dr. Muhammad Khalfan bin Khirbash, UAE Minister of State for Finance and Industry and Chairman of the DIB.
RAK signs MoU to set up USD500 million steel plant
The Government of Ras Al Khaimah today signed a Memorandum of Understanding (MoU) with the Al Ghurair Investments and ETA Star Holdings LLC, Dubai for setting up an integrated steel plant in Ras Al Khaimah with an investment of USD500 million.
- United Arab Emirates: Monday, May 30 - 2005 at 08:41
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Posted by Anne-Birte Stensgaard, Senior News EditorMonday, May 30 - 2005 at 08:41 UAE local time (GMT+4)
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This Article was updated on Tuesday, March 21 - 2006
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