Tribune News Network
DOHA
Minister of State for Energy Affairs HE Saad Sherida Al Kaabi inaugurated the 17th Arab Steel Summit in Doha, highlighting the need for the Arab steel industry to prioritise investment in advanced technologies and foster a culture of innovation.
In his keynote speech, Al Kaabi emphasised the importance of enhancing the industry’s global competitiveness while addressing the challenges facing the sector, including geopolitical tensions and sustainability demands.
Speaking to an audience of industry leaders and stakeholders, Al Kaabi acknowledged that the region’s steel industry has seen robust demand, fueled by large-scale infrastructure projects and a strong real estate market.
However, despite producing 40 million tonnes of steel annually, Arab countries contribute only a small portion of the two billion tons produced globally.
“This highlights the challenge to enhance our position on the global map and to stimulate the growth of our industry and enhance its competitiveness on all levels,” Al Kaabi said. The minister outlined the challenges faced by the Arab steel sector, noting that geopolitical crises continue to affect global economies and, by extension, the growth of the steel industry.
To overcome these challenges, Al Kaabi called for a focus on aligning economic growth with environmental and social goals. He emphasised that reducing the carbon footprint must be central to the industry’s sustainability strategy.
Highlighting Qatar’s leadership in sustainable steel production, Al Kaabi pointed to the efforts of Qatar Steel, which has maintained a low carbon footprint since its establishment in 1978.
Using MIDREX technology and electric arc furnaces, Qatar Steel has reduced carbon dioxide emissions to less than half the global average. Al Kaabi stressed that the Arab steel industry must follow this example and adopt environmentally friendly practices to remain competitive in the global market.
“The Arab steel industry must pay special attention to investing in advanced technologies and fostering a culture of innovation because the future belongs to those who invest in research and development and artificial intelligence,” the minister remarked.
He emphasised that innovation and technological advancements, particularly in areas such as artificial intelligence, are key to driving efficiency, productivity, and sustainability in the industry.
Al Kaabi also praised the Arab Iron and Steel Union (AISU) for its role in organising the summit and fostering collaboration among regional industry leaders.
He thanked AISU Chairman Awwad Al Khaldi and Secretary General Kamel Djoudi for their leadership and commitment to advancing the interests of the Arab steel sector.
In closing remarks, Al Kaabi expressed his hopes that the summit would serve as a platform for fruitful discussions and collaborations aimed at positioning the Arab steel industry as a competitive player on the global stage. He extended a warm welcome to international attendees and wished them a successful summit and a pleasant stay in Qatar.
The 17th Arab Steel Summit, organised by the AISU, is being held in Doha from October 14 to 15, 2024. The summit brings together key players in the steel industry to discuss technological advancements, sustainability initiatives, and the role of steel in regional development projects.
The accompanying International Iron and Steel Exhibition showcases the latest innovations in steel production technology.
