Swiss trading firm commences processing plant in UAE

Swiss trading firm commences processing plant in UAE

According to market reports, on November 2, Swiss based international steel trading company Conares Metal Supply's (CMS) Dubai unit commenced a steel processing plant in Jebel Ali, United Arab Emirates (UAE). The plant, which has a monthly capacity of 3'500 tons and started its trial operations last week, cost Dirham 5 million (about $1.4 million) and will meet requirements of customers in the Middle East region. An official from the company stated that shipments to other Arab Gulf Co-operation Council (AGCC) countries, specially Bahrain and Doha have already started. The plant will meet the demand of steel products in various sizes from the regional market by processing a wide range of coils, as well as giving cut-to-length services for angles, pipes and channels. In case the vitality in regional market goes on, the CMS group plans to expand further with an additional investment of Dirham 25 million ($6.8 million) within five years.