UAE-headquartered steel company Conares Metal Supply, located in the Jebel Ali Free Zone (JAFZA), has announced the opening on April 3 of its new $100 million steel rebar producing facility, supplied by plantmaker Siemens VAI of Italy, which will raise its annual cumulative installed capacity across all its plants to 700,000 mt.
"The new plant will have an annual installed capacity of 500,000 mt. It will produce 8-32 mm rebars with a 6-18 meter length range conforming to global standards and will be primarily used to supply the construction industry," Conares Metal Supply's director Mathew Ambat said, adding that the company has plans to invest further in its operations in JAFZA.
Conares has more than tripled its production capacity in the last 10 years and has made strategic investments in JAFZA that have helped it expand its market share regionally.
Conares is currently operating a tube mill plant at its facility in JAFZA to manufacture steel pipes and tubes (round, square and rectangular) with a designed capacity of 150,000 mt per annum, and has also contracted to purchase two more lines to add to its existing two lines, which will increase its capacity to 395,000 mt per year. Conares is also in the process of installing a pipe galvanizing facility to allow it to galvanize pipes in a size range of ½-6 inch.
In addition to its tubular production, Conares supplies steel billets, slabs, hot rolled coils, galvanized coils and sheets and a host of other industrial steel products mainly to the UAE, GCC, Africa, Pakistan, US and Canada.