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FINANCIAL NEWS
Emirates Steel USD1.90b Phase 2 expansion completed
27 Sep 2012
(MENAFN) Abu Dhabi’s Emirates Steel announced the completion of the USD1.90 billion Phase 2 expansion program, reported Khaleej Times.
It added that the expansion boosted the company’s annual production to 3.5 million metric tons, and allowed Emirates Steel to become a leading producer of reinforcing bars (rebar), and one of the main wire rod producers in the GCC.
At the current time, the firm is the only producer of jumbo and heavy sections in the Middle East and North Africa (MENA) region.
It is worth noting that Emirates Steel has the capacity to produce a range of structural sections from around 200 to 1,000 millimeters in depth, including jumbo sections.
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