| RAK Steel, a joint venture of Ras Al Khaimah Investment Authority and Middle East Traders group, is the second largest rebar manufacturing mill in UAE - with a capacity of 500,000 tonnes per year located in Ras Al Khaimah. |
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RAKSTEEL
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RAK Steel expansion planned for year-end: Gulf Construction
Dubai, 15 July 2009
RAK Steel, a joint venture of Ras Al Khaimah Investment Authority (Rakia) and Middle East Traders group, has announced that it intends to go ahead with plans to increase by 50 per cent its current production capacity of deformed steel reinforcement bars by the end of this year.
As part of a long-term strategy to cater to the gradual upturn in construction activities across the country, the steel manufacturing facility will invest $165 million to increase production from the current $500,000 to 750,000 tonnes per year.
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