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FINANCIAL NEWS
Conares launches new 500,000 MT steel plant in Dubai
04 Apr 2011
(MENA) CEO and managing director of Conares, Bharat Bhatia, said that the company’s new steel manufacturing plant, opened by Sheikh Ahmed bin Saeed Al-Maktoum, chairman of Dubai World, would have a production capacity of 500,000 MT, reported Arab News.
Bhatia added that the plant which is estimated to worth USD100 million and is based at Jabel Ali Free Zone, is a complementary factory for the ones which are in Jafza and produce metal for construction purposes.
Bhatia said that the new plant would have a significant addition to the market as it would give a new variety of products to customers.
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