Metalloinvest goes ahead with Hamriyah Steel project

The Russian steel group Metalloinvest Holding (Metalloinvest) has announced that in the second quarter of 2007 it will start the construction works on its new steel plant in the United Arab Emirates (UAE), which is to be named Hamriyah Steel. Hamriyah Steel is planned to be finished at the end of 2008, and is expected to be working at full production capacity by the end of 2009. As previously reported by SteelOrbis, Metalloinvest's new plant will be located in the UAE's Hamriyah Free Zone and will produce approximately one million metric tons of rebar a year. Billets necessary for production will be supplied to the new plant by Metalloinvest's subsidiary Ural Steel. The estimated cost of the new plant is $156 million.