Investing in an iron and steel plant in Yemen represents an investment opportunity in 2022, especially in light of Yemen’s Vision 2030, which aims to advance the national economy, enhance the foundations of economic stability, and strive to occupy a distinguished position among global economies.
Why invest in iron and steel plant?
Iron and steel constitute the backbone of the construction sector. The iron and steel industry is the backbone of numerous economic sectors, including the contracting, construction, and oil sectors, among others. Iron and steel plants produce a wide range of iron rod products of various diameters. Iron and steel plants contribute significantly to increasing the value of the gross domestic product and reducing unemployment rates.
In 2021, global crude steel production reached 1.95 billion metric tons. Global production is expected to reach 2.7 billion metric tons by 2026. The latest international statistics indicate that the value of Global iron and steel market It was estimated at about 841 billion US dollars in 2020, and is expected to grow. The global iron and steel market is expected to grow at a CAGR of 3.1% between 2022 and 2027, reaching a market value of USD 1010 billion by the end of 2026 and the beginning of 2027.
In 2016, Yemen imported approximately $308.2 million worth of cast iron and steel, a figure that rose to $545.6 million in 2020. These high import rates indicate the Yemeni market’s growing need for steel products, especially in light of reconstruction and reconstruction policies.
For more details on the latest economic indicators and investment opportunities in Yemen, as well as the most prominent funding agencies supporting successful investment projects in the country, you can contact the investor services team at Mashro3ak Consulting.
