The India-based steel pipe producer PSL Ltd has announced that it will invest $16 million in setting up a pipe manufacturing unit in the UAE's Hamriyah Free Trade Zone in Sharjah.
The pipes produced at the new facility will be supplied mainly to the UAE, Saudi Arabia, Oman, Qatar and Kuwait. PSL also considers Iran and Iraq as potential supply markets.
The new unit will have an initial annual capacity of 75,000 metric tons of spiral pipes, a three layered polyethylene (3LPE) coating line, an internal liquid epoxy coating line and a concrete weight coating unit.
The Hamriyah Free Trade Zone in Sharjah is becoming a very popular place for steel producers to locate their facilities in the Middle East. At the end of last year, the Russian steel producer Metalloinvest announced its intention to build a rebar mill in the zone.