Market experts forecast a 20 percent annual growth for steel rebar demand in Dubai due to the construction boom in the region.
Mr. Vikram Bhatia, director of Alam Steel Industries which put a new rebar processing plant into operation in Dubai Investment Park last week, has estimated that the emirate's rebar consumption will rise to four million metric tons this year.
Mr. Bhatia stated that the inaugurated mill has the capacity to process 300,000 metric tons of steel rebar a year.
"If construction continues in Dubai at the current level, we will have to expand the plant in a couple of years. Rebar consumption will grow at 20 percent per year for at least three years", Mr. Bhatia continued.