By Angela Giuffrida
US $20.4 million facility will produce 300,000 tonnes of steel per year including rebar, straightening, and ‘cut and bend'.
Building materials trader Madar Holding has opened a US $20.4 million (AED75 million) rebar processing factory in Dubai Investments Park.
The facility will produce 300,000 tonnes of steel a year, which will then be distributed to companies in the region.
Services will include straight steel bars cut to length, rebar coils, straightening, and cut and bend steel.
A mesh facility will be available from June and includes standard wire mesh and tailor-made wire mesh.
The factory sources its reinforcement steel mainly from Turkey, Qatar, Saudi Arabia and the UAE.
"Our aim is to deliver the highest quality materials within the quickest possible time," said Sameh Hassan, CEO, Madar Holding.
"We are here to support the construction industry and are making every effort to ensure our service meets the highest standards expected in the industry."
Madar Holding is a subsidiary of Saudi Arabia's Al Fozan Group.
"The factory has been built with convenience for our customers in mind - with easy access and dedicated customer service teams working round the clock to satisfy even the most demanding customer needs."
Madar Holding has subsidiaries in the UAE, Qatar, Jordan and Sudan. In the UAE, the company, through its subsidiaries, has the storage capability of around 1.2 billion m
. With $1.1 billion turnover in the year 2005 and growth of over 29%, Al Fozan group is considered to be one of the largest and fastest growing companies in the region with 15 group companies under its umbrella.
"With this kind of infrastructure in place, we are prepared to meet demand as and when it comes and to deliver what we promise when we promise it," added Hassan.
Around $3.5 billion worth of building materials are sold each year in the UAE, according to Hassan.