Posted by Neil King
Ras Al Khaimah Investment Authority (RAKIA) has granted a lease to SeAH Steel, a leading South Korean steel manufacturer, that will see the firm build a new manufacturing plant within a 250,000 square metre plot of RAKIA's industrial park.
SeAH Steel, which has overseas markets in the US, Japan, China and Vietnam, said it wished to expand into the Middle East and Africa.
Won-Ho Jang, manager of SeAH Steel's strategic planning team, added: "We looked into various options and found Ras Al Khaimah and RAKIA the perfect provider for our requirements - on one hand an ample area of land which not many industrial parks can provide and on the other hand impeccable infrastructure facilities, easy leasing and licensing procedures and a reliable, experienced, supportive business partner."
Meanwhile, Khater Massaad, chief executive officer of RAKIA, said that an industry leader like SeAH Steel would add to the strategic mix of companies in RAKIA, thereby enriching the business landscape and community of Ras Al Khaimah and its sustainability.
RAKIA's states that its mission statement is to promote trade, investment, growth and economic development in Ras Al Khaimah through free zones, industrial parks and offshore facilities.