Moroccan reinforcing steel producer Univers Acier has announced its intention to invest $150 million for capacity expansion purposes.
According to Univers Acier's president and general manager Mr. Mohammad Azmi, the investment will allow the company to meet its needs for billets and to increase its annual rebar production capacity by 600,000 mt to one million mt.
Commissioning of the new expansions is expected by the end of 2009 or in early 2010.
During the first half of 2008, Univers Acier recorded a 33 percent increase in rebar production to 120,000 mt, compared with the same period last year. Univers Acier sells all its production to Morocco's domestic market.
In the current year the price of rebar has increased by 43 percent in the Moroccan market to Dirhams 10,000/mt ($1,360/mt).