Conares, the second largest specialty steel producer in the UAE, has officially opened a color-coated steel products plant in Dubai's Jebel Ali Free Zone (Jafza). The state-of-the-art facility, developed with an investment of $40.84 million in Conares' facilities in the south of Jafza, is spread over an area of over 100,000 square meters.
The facility was inaugurated by Halal Saeed Al Marri, Managing Director of Dubai Economy and Tourism Department, in the presence of Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, and Abdulla Bin Damithan, CEO and General Manager of DP World UAE.
Conares is the only specialty steel mill in the UAE with four different product categories in its portfolio. The company's current assets are valued at $6.81 billion and it exports its products to 26 countries on six continents.
Sultan Ahmed Bin Sulayem said, "The construction industry has contributed to the growth and prosperity of the UAE economy, from world-class infrastructure to unrivaled urban icons around the world. The importance of Conaris lies in being one of the leading companies. To consolidate the achievements of this vital industry. The new facility will increase the real value that the construction and iron and steel industry provides to local, regional and global markets. We are proud to support such leading companies with our state-of-the-art technology.”
Bharat Bhatia said, "We are proud to launch our color-coated steel products plant, which is the latest of its kind in the steel industry in the region. With the opening of this new plant, we aim to gradually increase our revenues from 10% to 5% or 7% this year in our steel production."
Bhatia added: "We firmly believe in the vision of the UAE's wise leadership. With the support of federal and local government agencies, our products are gaining market acceptance and becoming the preferred choice for many prestigious projects across the country."
The color steel plant has an annual production capacity of 100,000 tons of color galvanized steel coils, strips and plates to meet the growing demand in the UAE and the region as a whole, as well as producing products for export to a number of global markets.
Conares offers a variety of products, including reinforcing bars, pipes and colored iron coils. The company has an impressive presence in global markets as it grows and continues to evolve to keep up with demand in the region. The company's vision is to increase its production capacity to three million tons by 2030, in line with its strategy of developing export markets.
The new plant will produce color coils with a thickness of 0.18 to 9 mm. The facility is equipped with advanced sustainable technology to ensure reduced carbon emission levels. It is worth noting that Conaris has a sustainable rebar certification from British Cares for our production in accordance with the conditions and standards set by the organization globally. The company has a strong presence in global markets and is currently trying to explore new markets for its products.