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Conares starts expansion of pipe plant to reach 1 million tonne mark-The 17th China(Guangzhou) International Tube&Pipe Expo
3/22/2016 Tube&Pipe exhibition |
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Gulf Today reported that with the rapid construction of infrastructure in the UAE, particularly Dubai gearing up towards the World Expo 2020, the demand for steel supply has been growing exponentially and statistics indicate that the UAE will have an additional growth of 10 per cent on a yearly basis from the year 2017. Local manufacturers are already in a strong position to cater to each of the upcoming projects as well as creating hundreds of job opportunities. The leading UAE conglomerate, Conares on Thursday commenced the installation of its 12-inch pipe manufacturing plant at Jebel Ali Freezone.
Conares has been manufacturing 500,000 metric tonnes of steel rebars and 250,000 metric tonnes of steel pipes annually; and now achieved the milestone of 1 million metric tonnes manufacturing capacity with additional production of 250,000 metric tonnes as per the expansions at its plant. With commencing the installation of its 12-inch pipe mill, Conares is a step closer to produce 1 million tonnes of steel annually. The company¡¯s current market reach for steel rebars is at 85 per cent in the UAE; 15 per cent in the Middle East region; while it is 65 per cent in the UAE, 20 per cent in the region and 15 per cent in the part of the world for steel pipes.
This is part of Conares¡¯ endeavour of enhancing its annual production to 1 million tonnes, said Bharat Bhatia, CEO of Conares, at the sideline of the event. He said ¡°Being a 100 per cent privately owned entity, our assets exceed $300 million of investments in the UAE. With the support from federal and local government agencies, our products have not only gained market wide acceptance but also are preferred choice of many prestigious projects today.¡±
He said ¡°Strategically, we have aimed to have a wider market presence based on the product which is why we have a certain percentage of exports outside the region. For pipes, being a global product for us, our export stands at 40 per cent. Rebars, being a regional product, 75 per cent of our production is allotted to the local market and remaining is spread within GCC.¡±
-The 17th China(Guangzhou)
International Tube&Pipe Expo
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