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15 July 2009
Dubai
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RAK Steel expansion planned for year-end: Gulf Construction
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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04 June 2009
Dubai
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RAK Steel aims to have 750,000 tonne capacity mill: Gulf News
RAK Steel, a steel manufacturing facility, plans to increase its annual deformed steel reinforcement bars capacity by 50 per cent by the end of this year to 750,000 tonnes.
The plant currently has a capacity of 500,000 tonnes of deformed steel reinforcement bars.
The boost in production capacity is also expected to increase RAK Steel's presence in the market as it is already the second largest producer of steel rebars in the UAE.
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04 June 2009
Dubai
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RAK Steel to Invest $165 Million to Raise Capacity by 50 Per Cent: Khaleej Times
RAK Steel, the second largest steel manufacturer in the UAE, plans to invest $165 million to increase its capacity by 50 per cent to 7,50,000 tonnes by the end of 2009, its Chief Executive Officer Ajay Aggarwal said on Wednesday.
The increase in production capacity is expected to further boost RAK Steel’s market presence as it currently holds the distinction of being the second largest producer of steel rebars in the UAE.
Emirates Steel is the largest producer of steel products in the country, which recently expanded its capacity. “There is still significant imports of steel products in the country after Emirates Steel expansion,” Aggarwal ?told Khaleej Times.
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[Click here to read the Arabic version]
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04 June 2009
Dubai
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RAK Steel to raise output by 50 per cent : Emirates Business 24-7
RAK Steel, a steel manufacturing facility and a joint venture with the Ras Al Khaimah Investment Authority (Rakia), has announced plans to increase the annual production of its deformed steel reinforcement bars by 50 per cent. A company statement said it is part of a long-term strategy to cater to the "gradual upturn in construction activities across the country".
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03 June 2009
Dubai
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RAK Steel factory to expand production capacity by 50 per cent to 750,000 tonnes: Zawya
RAK Steel, an energy-efficient, environment-friendly steel manufacturing facility and a joint venture with Ras Al Khaimah Investment Authority (RAKIA), has announced plans to increase by 50 per cent its current annual capacity of 500,000 tonnes of deformed steel reinforcement bars by the end of 2009 as part of a long-term strategy to cater to the gradual upturn in construction activities across the country. RAK Steel also revealed plans to become an integrated steel mill and has commissioned preliminary planning for the implementation of the expansion initiative.
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09 May 2009
Dubai
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Price of steel rises to $500 per tonne in April: Gulf News
The prices of various building materials in the Middle East have risen by as much as 15 per cent in April 2009 as compared to the first quarter, with the price of steel witnessing the steepest hike from $430 to $500 per tonne, according to a report.
The price hike, which is expected to encourage a more upbeat trade atmosphere in the market, is the result of the increase in building material imports following a slowdown in regional orders from October 2008 to February 2009 due to overstocking.
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05 April 2009
Dubai
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Steel prices will continue to fluctuate in 2009: Emirates Business 24-7
Locally manufactured steel is sufficient to satisfy the current demand within the UAE as steel prices continue to fluctuate, according to experts. They expect prices to hover around Dh1,850 during 2009.
According to Ajay Aggarwal, CEO of RAK Steel, with the commissioning of a few more mills in the coming months, production levels in the country could further increase. Steel production in the UAE is expected to touch around 10 million tonnes per year by 2010. Steel is currently being sold at around Dh1,830 to Dh1,850 per tonne, he said.
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31 March 2009
Dubai
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Traders welcome duty on cement and steel: Emirates Business 24-7
Traders and producers across the UAE have welcomed the decision to reintroduce the customs duty on imported cement and steel arguing that the move will protect local manufacturers besides discouraging oversupply in the market.
Ajay Aggarwal, CEO RAK Steel, also welcomed the decision and said that it would prevent people from dumping and remove speculators out of the market.
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09 March 2009
Ras Al Khaimah
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RAK Steel featured in RAK Today magazine:
RAK Steel as one of the major companies under RAKIA by the RAK Today magazine.
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24 February 2009
UAE
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RAK Steel postpones 250,000 tpy expansion until Q4 2009: Metal Bulletin
UAE-based re-roller Rak Steel has postponed plans to up its capacity to 750,000 tpy until the end of the year due to the slowdown in demand from the construction sector, the company told MB
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23 February 2009
UAE
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Gulf steel firm halts expansion plans: Building
A Gulf steel firm has put the brakes on expanding its capacity until the end of this year because of the slump in demand.RAK Steel is based in Ras Al-Khaimah and was set up by the emirate's investment authority and the Middle East Traders Group.
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23 February 2009
UAE
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RAK Steel postpones planned capacity expansion: Platts-Metals
RAK Steel has postponed its planned capacity expansion in the UAE to end-2009. Ajay Aggarwal, CEO of RAK Steel, said the original plan was to have the new facilities up and running by the end of this quarter.
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23 February 2009
Dubai
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Call for reimposing customs duty on cement and steel: Emirates Business 24-7
UAE cement and steel producers say the time is right for the reintroduction of customs duty on imports in an effort to protect the interests of local manufacturers. Ajay Aggarwal, CEO of RAK Steel, said the government decision to reintroduce the tariff will discourage speculators. "It is not a protectionist measure. It existed and was removed because any speculation or volatility in prices is not good for the market.
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22 February 2009
Ras Al Khaimah
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RAK Steel expansion postponed: Emirates Business 24-7
RAK Steel has postponed its planned capacity expansion in the UAE to end-2009.
Ajay Aggarwal, CEO of RAK Steel, said the original plan was to have the new facilities up and running by the end of this quarter. “But it will now happen only by the end of 2009,” he said.
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18 February 2009
Ras Al Khaimah
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RAK Steel receives award in first year: Gulf News
RaK Steel, the second largest producer of steel rebars in UAE, has received the prestigious CARES Certificate of Approval within one year of commencement of operations. RAk Steel, a joint venture of Ras Al Khaimah Investment Authority (Rakia) is an energy efficient rolling mill with 500, 000 tonnes capacity of deformed steel bars per year.
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17 February 2009
Dubai
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RAK Steel receives CARES Certificate of Approval: Middle East Logistics
RAK STEEL, the second largest producer of steel rebars in the UAE, has received the prestigious CARES Certificate of Approval within one year of commencement of operations.
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16 February 2009
Dubai
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Demand for steel in UAE projected to drop by 50%: Emirates Business 24-7
Steel demand in the UAE is expected to fall by almost 50 per cent due to slowdown in the construction sector, experts said. In Dubai and the Northern Emirates alone, consumption has fallen by about 2. ...about 2.5 million tonnes than previously estimated, said Ajay Agarwal, CEO of RAK Steel. "Last year, UAE's consumption was around 5.5 million...
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15 February 2009
Ras Al Khaimah
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RAK Steel wins CARES award: Steel Guru
It is reported that RAK Steel has received the highly esteemed CARES Certificate of Approval. The Certification Authority for Reinforcing Steel is an impressive accreditation that is recognized all over the world.
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11 February 2009
Dubai
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Dubai rebar maker gets CARES OK, plans exports to Europe
RAK Steel, based in Ras Al Khaimah close to Dubai, plans to export rebar to Europe after obtaining approval from the quality certification body CARES, the company’s CEO Ajay Aggarwal tells Steel Business Briefing.
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13 December 2008
Dubai
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Steel Club set up to foster relations: DMCC aims to connect industry players: Gulf News
The Dubai Multi Commodities Centre has formed a club to foster business opportunities and information exchange among steel industry players. At the launch event, key industry achievements were also recognized through the presentation of the annual DMCC Steel Club Awards, 2008. SM Rao, the chairman of Middle East Traders, received the “Lifetime Achievement Award”.
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21 November 2008
Ras Al Khaimah
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RAK Steel secures ISO 9001:2000 certification: Steel Guru
It is reported that RAK Steel has received the prestigious ISO 9001:2000 certification in recognition of its dedication to quality standards in the manufacturing of rebars.
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20 November 2008
Ras Al Khaimah
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RAK Steel achieves ISO 9001:2000 certification: Gulf News
RAK Steel has received the ISO 9001:2000 certification in recognition. The certification is awarded in recognition of RAK Steel’s compliance with ISO 9001:2000 quality system requirements and continual improvement of the effectiveness of its QMS processes rebars manufacturing.
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15 October 2008
Ras Al Khaimah
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RAK Steel factory resumes production: Steel Guru
Local media reported that the Ras Al Khaimah Steel plant resumed production last week after a brief closure for essential maintenance works.
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08 September 2008
Ras Al Khaimah
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RAK Steel undertakes maintenance for 2 weeks: Steel Guru
RAK Steel has informed said that its plant is under maintenance for 2 weeks and shall resume its production by last of September 2008.
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07 September 2008
Ras Al Khaimah
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RAK Steel suspended production of rebar till October: Steel Guru
It is reported that Rak Steel suspended production of rebar until early October 2008 because of unfavorable situation in the market.
As per report, during the standstill Rak Steel will lose some 35,000 tonne of 8mm to 40mm rebar.
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25 March 2008
Dubai
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RAK inaugurates $50m steel factory: Gulf News
Shaikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, on Sunday officially inaugurated the $50 million RAK Steel factory in Al Ghail, Ras Al Khaimah. RAK Steel, a joint venture with Ras Al Khaimah Investment Authority (Rakia), is an energy-efficient, environment-friendly mill that will manufacture 500,000 tonnes of deformed steel reinforcement bars per year.
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24 March 2008
Ras Al Khaimah
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$50m steel factory opened in RAK: Khaleej Times
Shaikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, on Sunday inaugurated the $50 million RAK Steel factory in Al Ghail, Ras Al Khaimah.
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24 March 2008
Ras Al Khaimah
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RAK Crown Prince opens Steel factory: Emirates News Agency
WAM Ras Al Khaimah,Mar 23th, 2008 (WAM)H.H. Sheikh Saud bin Saqr Al Qasimi,Crown Prince and Deputy Ruler of Ras Al Khaimah, inaugurated the USD 50 million RAK Steel factory set up at the Al Ghail Industrial Park here Sunday evening.
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24 March 2008
Ras Al Khaimah
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$50m steel plant launched in RAK : Trade Arabia News Service
RAK Steel, a joint venture between Middle East Traders Group and Ras Al Khaimah Investment Authority (Rakia), is an energy-efficient, environmentally friendly mill that will manufacture 500,000 tonnes of deformed steel reinforcement bars per year.
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07 March 2008
Ras Al Khaimah
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RAK Steel set to commence production : Steel Guru
Gulfconstructionworldwide.com reported that RAK Steel, spearheaded by Ras Al Khaimah Investment Authority, is to commence commercial production of a range of rebars for the construction industry at the end of last month, following completion of trial production.
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