Conares Partners with Xiamen C&D Co., Ltd to Supply Premium Steel Products to GCC Nations
DUBAI, July 2023 – Conares, the second-largest private steel manufacturer in the United Arab Emirates, announced a strategic partnership with Xiamen C&D Co., Ltd, a Fortune Global 500 company specializing in supply chain operations and real estate development. The collaboration aims to cater to the increasing demand for high-quality Chinese steel products across various sectors in the Gulf Cooperation Council (GCC) countries, including construction, infrastructure development, and manufacturing.
This partnership signifies an important milestone, anticipating an uplift in goods and services trade between China and the GCC nations.
Xiamen C&D Co., Ltd, a state-owned enterprise of Xiamen, originated as the Xiamen Construction Development Company, founded in 1980. Over its more than four-decade trajectory marked by constant innovation and transformation, the company has evolved into a large-scale industrial investment enterprise group in Fujian Province. It boasts a registered capital of 6.75 billion yuan and total assets surpassing 650 billion yuan. With an annual business revenue exceeding 700 billion yuan, its diverse operations encompass supply chain management, urban construction and operations, tourism and exhibitions, healthcare, and investments in emerging industries.
In 2022, Xiamen C&D Co., Ltd was ranked 77th on Fortune’s Global 500 list and 15th among China’s top 500 enterprises. It has also maintained its leading position among Fujian Province’s top 100 enterprise groups for several consecutive years.
The collaboration between Conares and Xiamen C&D Co., Ltd not only cements the commitment of both parties to cater to the GCC’s burgeoning demand for steel but also strengthens the business ties between the UAE and China.
About Conares:
Conares is the UAE’s second-largest private steel manufacturer, renowned for its commitment to delivering quality steel products tailored to meet the needs of the region.