UAE Conares Metal Supply to launch new rebar facility in Q1 2010
Wednesday, 28 Oct 2009
UAE headquartered steel company Conares Metal Supply located in the Jebel Ali Free Zone announced last week that, despite the slump in the global steel industry, it is continuing with its USD 70 million expansion plan, whereby the company expects to expand its annual rebar production capacity by 500,000 tonnes adding to its current annual rebar output capacity of 200,000 tonnes.
Mr Bharat Bhatia MD of Conares said that "The Phase I of the new 100,000 square meter facility, located in JAFZA South is almost completed and is expected to start its operations by the Q1 of 2010. The 40,000 square meters Phase I will be able to produce 500,000 tonnes of rebar per year. With the addition of this capacity, the company's total production will reach 700,000 tonnes per year from its current annual capacity of 200,000 tonnes."
Mr Bhatia said that "It is important to mention that the logistical advantage we gain from being located in JAFZA is essential in making sure planned investments are made and that capacity is enhanced without hindrance."
He said that "We have reached a milestone with the construction of our new facility in JAFZA South Zone. This significant expansion plan is consistent with our strategy of not only strengthening our business but also extending it to new areas and markets."
