Conares marks 10-10-10 milestone: Revenue at AED 10bn, Handled 10mn MT in 10 Years

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Achievements coincide with rebar mill operations at Jebel Ali FZ clocking successful 10 years. 

Dubai: Conares, the second largest steel manufacturer in the UAE today announced celebrating a 10-10-10 milestone of revenue and steel handled over 10 years. 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 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.

Kush Bhatia, Director – 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.

About Conares:

With its foothold securely placed in the steel industry, Conares is the one of the largest and the only private steel manufacturers in the region. Since its inception in 1988, Conares initially focused on steel trading. Having built extensive partnerships with renowned steel plants across the world, it brought the world-best competencies to the region, by setting up its own state of art manufacturing facility in UAE. The company earmarked AED 200 million towards expansions by the year 2020. Being a 100 per cent privately owned entity, the company assets exceed US$300 million of investments in the UAE.

As the Middle East focuses on development, Conares serves as the perfect partner to meet the growing industry requirements for steel rebars, pipes and color coated coils. A diversified and full-fledged manufacturing facility based in the UAE, the strategic hub between the East and the West, Conares today is the premier producer of quality steel products for wide-ranging needs, having a total manufacturing capacity of 1,000,000 MT annually. Conares earned various international product certifications for its various steel products, which it serves in the fledgling construction industry in the region and abroad. Meanwhile, its on-going efforts in streamlining its manufacturing operations to be safe for its employees and community have earned the company its sustainability certification from UK CARES Sustainability Scheme. 

From its central location in Dubai, UAE; Conares serves an extensive network of clientele including pre-engineering companies, steel trading companies and construction majors not in the Middle East but across wider markets that are easily accessed from its headquarters. Led by a team of experienced and skilled professionals, Conares today employs more than 500 people. Conares has set new benchmarks in the steel industry through its commitment to quality, excellence, and service standards. A trusted name in the industry, Conares is led by the vision to support the region’s infrastructure development by providing world-class steel products through long-term partnerships. At Conares every business partnership, each product, every process, and any aspect of service is defined by three core values – Trust, Quality & Strength.