Elaman Group – United Steel: Strategic Partnership

Elaman Group – United Steel: Strategic Partnership

The Kazakh company Elaman Group is actively expanding its international presence by initiating negotiations on strategic cooperation with one of the largest metallurgical players in the United Arab Emirates — United Steel.

United Steel’s production capacity is approximately 1 million tons of long steel products per year. The company’s metallurgical plant is located in one of the UAE’s key industrial hubs, providing efficient logistics and access to global markets.

According to expert estimates, the asset’s capitalization is around USD 500 million, underscoring its scale and high investment attractiveness.

According to Azamat Utegenov, Founder and Managing Partner of the industrial and investment holding Elaman Group, the company is considering the potential transaction within a multilateral industrial partnership involving a major Chinese industrial holding, which would give the project a distinctly international character.

During the negotiations, the parties agreed on key commercial parameters as well as a phased implementation plan for the potential transaction.

Strategic Focus

The acquisition of a metallurgical asset in the UAE is viewed by Elaman Group not as a one-time investment, but as a strategic move aimed at long-term expansion of international presence, strengthening export potential, and developing highly efficient metallurgical projects focused on global markets, says Khondamir Yuldashev, Director of the Finance and Strategic Planning. Long-Term Strategy Department.