Dubai, June 10 2021: Conares, the second largest steel manufacturer in the UAE celebrated a 10-10-10 milestone of revenue and steel handled over 10 years, last week. Furthermore, its rebar mill completes 10 years of operations, which was established in 2011 at the Jebel Ali Free Zone (JAFZA).
Addressing media at a roundtable on the 10th anniversary of rebar mill, Mr. Bharat Bhatia, Chairman and CEO of Conares, said: “Completing ten years is a proud and celebratory moment for us, as well as a rare occasion of triple achievement, which includes notching up AED 10 billion in revenue and a handled 10 million metric tonnes of steel in an eventful growth spanned over the last decade.”
Conares, a 24/7 manufacturer, is the only steel producer in UAE diversified across Rebars, Pipes and Color Coated Coils in the region, having invested in plants and operations with a current market value more than AED 1.3 billion.
“This auspicious occasion and the coincidence of achievements would not have been possible without the support of the Government and Rulers of the country, and we are grateful for this continuous encouragement which has helped us achieve new heights.” Mr. Bhatia said.
Conares has a workforce of nearly 700 employees, which is poised to grow more as the company adds to the current infrastructure with the asset value set to touch AED 1.5 billion in the near future, and a revenue target of AED 2 billion per annum.
Mr. Vivek Bhatia, Director at Conares, said, “We want to dedicate this growth story of the decade to our committed workers, and it is their achievement, as they strived to make Conares one of the top three steel manufacturers contributing to the growth of the nation. We leveraged innovation and our resources to implement the best practices in manufacturing, which opened our capabilities to meet the demand in the market. For the next 10 years, we have planned a range of measures to improve productivity, optimize our supply chain and automate processes.”
Conares has taken sustainable measures for its operations and will continue invest in renewable energy. The company is amongst the leading steel manufacturers having a low carbon footprint with emphasis on 5R’s and zero waste disposal. Conares has been operating it’s mills to serve the country’s upcoming projects.
Mr. Kush Bhatia, Director of Sales & Marketing at Conares, said, “We are proud that our products are used in a wide number of major projects in the UAE, including Etihad Rail and the prestigious Expo 2020. Our growth and presence in international markets has been remarkable. Currently, we are in the process of developing new markets for our products. We are keen on helping the ‘Made in UAE’ brand reach new heights, and export the products manufactured in the UAE, to be well recognized across the globe.”
Conares has continuously been evolving with the region’s growth and requirements. The company’s growth has remained on a positive trajectory for three decades of its operations, helping it cross significant steel industry growth milestones.
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