Expanding sustainable financing to support AGSI’s operations
Arabian Gulf Steel Industries (AGSI) has secured a Sustainable Finance Working Capital Facility from Ajman Bank, further expanding the company’s sustainable finance framework.
The facility supports AGSI’s continued efforts to align its financing with its sustainability commitments while supporting ongoing operations.
As one of the UAE’s leading steel manufacturers and the country’s largest scrap recycler, AGSI continues to advance steel production through lower-emissions processes, with annual production capacity of 720,000 tonnes of billet, 960,000 tonnes of rebar, and 240,000 tonnes of light and medium sections.
This development follows a recent sustainable financing facility secured by AGSI, arranged by Emirates NBD, supporting the expansion of the company’s low-emissions steel production capacity to meet growing demand from the real estate and construction sectors.
AGSI’s Abu Dhabi plant has achieved net-zero emissions, marking a first for the steel sector in the region and reinforcing the company’s position within the UAE’s industrial landscape.