Sunday, 20 July 2008 |
04:09 UAE time
The US $50 million (AED183 million) RAK Steel Factory has been officially inaugurated in Al Ghail, Ras Al Khaimah.
RAK Steel, a joint venture with Ras Al Khaimah Investment Authority (Rakia), will manufacture 500,000 tonnes of deformed steel reinforcement bars per year.
RAK Steel will become the second largest producer of rebar in the UAE.
The Gulf region has one of the highest per capita consumption levels of steel products in the world.
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