Conares opens Dhs150m colour-coated steel plant in JAFZA

Conares opens Dhs150m colour-coated steel plant in JAFZA

Conares, the second largest private steel manufacturer in the UAE, announced the official inauguration of its colour-coated steel plant in Jebel Ali Free Zone (JAFZA), Dubai. The state-of-the-art facility, developed at an investment of Dhs150m within the Conares premises in JAFZA South, which spans over an area of 100,000 square meterss. Conares is the only private steel manufacturer in the UAE with four distinct product verticals. Exporting products to 26 countries across six continents, the company’s assets are currently estimated to be valued at Dhs2.5bn. Sultan Ahmed Bin Sulayem, group chairman & CEO, DP World said, “The construction sector has contributed significantly to the UAE’s development and progress – from world-class infrastructure to the iconic buildings we house. This new facility will add further value to the sector’s offerings to the local, regional, and international markets. We are proud to support such organisations through our advanced facilities, and unmatched multimodal connectivity.” Bharat Bhatia, chairman and CEO of Conares said, “With the launch of this new plant, we expect the revenue to increase by 10 to 15 per cent gradually, in comparison to that of the previous year. We are also aiming to increase our dispatch by 5 to 7 per