The 50-50 percent joint venture project carried out with a group of Palestinian investors was initiated in late 2004 and started trial production last June.
The new plant, which cost JD 70 million ($98.7 million), has an annual production capacity of 250,000 mt that can be raised to 360.000 mt, since all facilities and infrastructure at the site are designed for such an increase. The new plant is comprised of three parts: the EAF, the ladle refinery furnace and the continuous casting machine.
Marking the official launch of the plant's billet production, Jordan Steel general manager Emad Badran stated, "Due to rising demand in the local market and abroad for reinforcement bars and associated products and due to high prices of raw materials, which account for the major part of production costs, Jordan Steel opted to cooperate with a group of Palestinian investors to set up a plant to supply the needed raw materials."