OCM to establish steel processing factory in UAE
Dubai Investment Park (DIP) reportedly signed an agreement with
Oman Construction Material and
Trading (OCM) Group to build a steel processing factory in United Arab Emirates (
UAE).
The new plant will enable the companies to expand and diversify their product range.
The proposed plant, which will have an annual steel
production capacity of 180'000 tons, is scheduled to be completed by 2007. The cost of the plant is expected to be around AED 1.5 billion (approx. $4 billion).