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 cent this year.”

He added,“We strongly believe in the vision of the leadership of this nation. With support from federal and local government agencies, our products have gained market wide acceptance and are the preferred choice for many prestigious projects today.”

The colour-coated steel plant, with a capacity to produce 100,000 metric tonnes of colour-coated galvanised steel coils, strips, and sheets per annum, will cater to the increasing demand in the UAE and the region, in addition to manufacturing products to export to a number of international markets.

Conares brings to the market a diversified product range including rebars, pipe, and colour-coated coils. Its growth and presence in the international markets has been remarkable and has continued to evolve with demand in the region.

The facility will produce colour-coated coils ranging from 0.18 to .9 mm in thickness. The plant also houses advanced sustainable technology, resulting in lowered carbon emission from the factory. The company had earlier achieved a sustainable certificate from UK Cares, which audits our facility to certify the same. They are also in the process of identifying new markets for their new and existing products.