Conares Metal Supply, a leader in the regional downstream steel products industry, has opened its $100 million steel rebar manufacturing facility in collaboration with Siemens-Vai of Italy at Jebel Ali Free Zone in Dubai.

The plant would complement and add value to the existing manufacturing operations of Conares in Jafza which currently span nearly 1.5 million sq ft.

Conares currently operates a tube mill plant at its Dubai facility making pipes and tubes with a rated capacity of 150,000 tons per annum. The company also confirmed plans to invest further into its operations in Jafza.

Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai World, inaugurated the facility in the presence of top officials and international trading partners of Conares.

Commenting on the launch, Bharat Bhatia, CEO & managing director, Conares, said the new investment was in line with its confidence and positive outlook on Dubai’s long term prospects.

"It is also a significant step for Conares in its strategic business growth plan to leverage our strength in the regional market further by offering an enhanced product range to our customers," he noted.

“The reputation of Dubai as a regional trading hub continues to catalyze our growth. Coupled with this is the proactive encouragement and support by Jafza. The logistical edge it provides with port facilities in the proximity is what has made Conares a global player today."

"Our new investment, despite the uncertainties in the region, is a testimony of the Conares confidence in Dubai and the region as a growth hub.” he added.

Salma Hareb, CEO of Economic Zones World, the parent company of Jafza, said Conares had emerged as a significant achiever in its area of operation and as its host, Jafza was happy to share in this achievement.

"The new facility will contribute to the overall industrial capabilities of the UAE; and is a vital endorsement of Jafza as well. We remain committed to providing a world-class platform for them to expand their footprint in the region," she remarked.

Ibrahim Mohammed Al Janahi, deputy CEO, Jafza and chief commercial officer said: “Conares’ acute market sense deserves highest praise. The company has more than tripled its production capacity in the last 10 years and made strategic investments in Jafza that have helped it expand its market share regionally."

"The opening of this new facility reflects the company’s continued trust and confidence in Jafza. We will continue to play a strong supporting role in the ongoing development of Conares and we look forward to cementing our relationship with the company further in the years to come.”

Mathew Ambat, director, Conares Metal Supply, said, "The production at the new plant is all set and this will raise our annual cumulative installed capacity across all our plants to 700,000 MT per year."

"The new plant will have an annual installed capacity of 500,000 MT. It will produce 8-32 mm rebars with 6-18 metres length range conforming to global standards and will be primarily used in the construction industry," he added.

Conares, Ambat said, currently manufactures tube and pipe products apart from supplying steel billets, slabs, hot rolled coils, galvanized coils and sheets and a host of other industrial steel products to the UAE, GCC and overseas markets.-TradeArabia News Service