Dubai, April 3, 2011: Conares Metal Supply, an established leader in the regional downstream steel products industry, today announced the opening of a major steel rebar (reinforcement steel bars) manufacturing facility in Jafza (Jebel Ali Free Zone), officially inaugurated by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai World, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group.
The plant would complement and add value to the existing manufacturing operations of Conares in Jafza which currently span nearly 1.5 million square feet. The company also confirmed plans to invest further into its operations in the free zone.
Also present at the inauguration were senior officials from Jafza, international trading partners composed of steel mills, global steel traders both local and foreign, the local and international financing community as well as senior management and employees of Conares and its shareholders.
Commenting on the opening of the facility which was set up in collaboration with Siemens-Vai, Mr. Bharat Bhatia, CEO & Managing Director, Conares, said: "The new investment is in line with our 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.”
“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.
Mrs. Salma Hareb, CEO, Economic Zones World, the parent company of Jafza addressing the occasion said, “Conares has emerged as a significant achiever in its area of operation and as its host, Jafza is 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.”
Mr. 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 state–of-the art 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”
Commenting on the plant, Mr. Mathew Ambat, Director, Conares Metal Supply, said: “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.”
Conares 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.
About Conares Metal Supply Limited
Conares Metal Supply Ltd. was staged as a trading company and has been synonymous to steel in the local market. With its alliance with the various steel mills around the world, Conares supplies the UAE and GCC market with steel products. Our clientele includes pre-engineering companies, major steel trading companies, construction companies etc.
Conares is currently operating a tube mill plant at its facility in Jebel Ali Free Zone to manufacture Pipes & Tubes (round, Square & Rectangular) with a rated capacity of 150,000 tons per annum (Existing Size Range 1/2" - 4") and has also contracted to purchase 2 more lines to add to its existing 2 lines. After the installation of the 2 new lines the rated capacity will go upto 395,000 tons per annum (New Size Range 1/2" - 12"). Conares is also in the process of installing a pipe galvanizing facility to allow the company to galvanize the pipes from 1/2" to 6". The company has also successfully installed the seam annealing facility that will allow the company to supply pipes conforming to ASTM A 53 Grade B. Conares tube mill facility is ISO certified and the pipes are also UL certified.
Conares is also installing an 80 ton / hr debar mill from Siemens-Via of Italy. The debar plant will have an estimated annual capacity of 500,000 tons per annum. The facility will be able to produce debar from 8 mm dia to 32 mm dia and will be ready for commercial production within a few months.