The United Arab Emirates-based private steelmaker Conares has commissioned its state-of-the-art color-coated steel plant, according to media reports.
An investment of AED 150 million ($40.84 million) was made for the plant which has an annual production capacity of 100,000 mt. The plant will meet the increasing demand in the UAE and export markets.
With the launch of the new plant, the company expects its revenue to increase by 10-15 percent and its dispatch by 5-7 percent, compared to the previous year.
Conares aims to increase its production capacity to up to three million mt by 2030.