Conares on course to meet rising UAE steel demand
Company supplied 80,000 MT of steel to four key infrastructure-development projects in the UAE in recent months
The steel manufacturing sector in the UAE is currently witnessing a spurt in production by 15 to 20 percent compared to that of the last year, thanks to the announcement of major infrastructure development projects across the country, according to a press statement by UAE-headquartered Conares Steel.
Bharat Bhatia, CEO of Conares, the second largest private steel manufacturer in the UAE, said: “With the existing developments for the Expo 2020 and the plans envisioned under the Vision 2021, projects are on track to be completed before 2020.
He anticipates a growth in the industry by 30 percent until the end of this decade, which will help local steel manufacturers cater to the three to four million metric tonnes rebar demands for all these projects.
“Conares is in a growth path to deliver 1 million metric tons of steel annually. The company’s current market reach for steel rebars (reinforcing bars) is almost 100 percent in the UAE; while it is 65 percent in the UAE, 20 percent in the region and 15 percent in the part of the world for steel pipes,” added Bhatia.
Bhatia also believes the demand for steel products in the UAE is expected to increase by 10 percent in 2017, 20 percent in 2018 and a similar pace by 2019.
“We have delivered a total of 80,000 metric tonnes of steel recently to four key infrastructure projects including Jebel Ali Bridge connecting North and South,” Bhatia further indicated.
