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27 January, 2010 | METALLOINVEST Hamriyah Steel launched the production of steel rebarTrials at Hamriyah Steel metallurgical plant in UAE started on the 26th of January2010. The first Russian-UAE joint venture of such a size was built by Metalloinvest Holding. The plant is using SMS Meer equipment which proved its operation capacity. The trials are expected to end up in three weeks when first 600 tons of rebar will be produced. By the end of 2010 the plant intends to achieve a full operation capacity - 1 million tons of rebar annually. "This event is of historic significance. It marks the termination of two years work to build the first Russian metallurgical plant in the United Arab Emirates", Hamriyah Steel general director, Shukhrat Nishanov said. One of the key targets of Hamriyah Steel construction was to provide Metalloinvest expansion to the Middle East markets. Project investments averaged $150 millions.
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