Abu Dhabi's Emirates Steel Says Invites Bids For Phase 3 Expansion

Abu Dhabi's Emirates Steel Says Invites Bids For Phase 3 Expansion.
Staff Reporters
Dow Jones MetalSource Steel
News

DUBAI (Zawya Dow Jones)--Emirates Steel Industries, a unit of Abu Dhabi government-owned General Holding Corp., said Monday it has started inviting companies to bid for its planned phase-three expansion that will add more than 50% to the company's existing production capacity.
Emirates Steel, in an emailed statement, said it had released invitation to bid, or ITB, documents for phase three, which will add a steel melting plant, a hot rolled coil mill and ancillaries that will primarily service demand across downstream segments in the Gulf Cooperation Council region.

The company has already completed a two-phased expansion valued at 9 billion U.A.E. dirhams ($2.45 billion) that took production capacity to 3 million metric tons a year from an initial 650,000 tons annually.
The third phase is expected to be completed within 30 months from contract award--expected by December this year--with commercial production of hot rolled coil seen starting in mid-2014. The new phase will add as much as 1.6 million tons a year of additional output capacity, Emirates Steel said.