DP World UAE Region and Conares Collaborate to Contribute to the UAEs operation 300BN Initiative
The leading enabler of trade successfully facilitated the export of rebars from Dubai to North America for the first time, by utilising its global footprint and integrated product offerings
DP World UAE Region, the leading smart trade enabler’s flagship Jebel Ali Port, carried out the export of 75,000 metric tonnes of rebar for Conares, the leading steel manufacturer in the Middle East. The consignment was shipped from the Jebel Ali Port to North America.
With this export, DP World UAE Region and Conares collaborated to contribute to the UAE’s “Operation 300bn” initiative. The rebars that were manufactured at Conares’ facility in the industrial sector of Jafza were exported internationally for the first time with end-to-end handling of the cargo done by DP World’s Jebel Ali Port Operations. This first-of-its-kind operation will open doors for many more such business operations.
Commenting on this, Abdulla Bin Damithan, CEO & Managing Director, DP World - UAE Region and Jafza said: “The industrial sector has been a key pillar not only for DP World, UAE Region, but also for the nation. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai recently launched ‘Operation 300bn’, a national industrial strategy aimed at raising the manufacturing sector’s contribution from AED133 to AED300 billion over the next 10 years, and the 'Make It in The Emirates' initiative, the UAE's industrial identity to support domestic products and promote the sector globally.”
“We, at DP World, UAE Region, have always worked in alignment with the development goals of our wise leadership. Through our collaboration with Conares, we hope to underpin the front-running position of the UAE’s industrial sector. We are confident that Conares’ manufacturing facility and our Jebel Ali Hub with its world-class logistics ecosystem will lead this vision,” Bin Damithan added.
Supporting the national strategy
Bharat Bhatia, Chairman of Conares said: "Conares has been recognised as a premier producer of quality steel in massive quantities from Dubai, the strategic hub between the East and the West. We have always aligned our model to support the industrial goals of the nation and consistently worked towards making each of them a reality. We are excited to be part of the UAE’s government’s ‘Operation 300 bn’ initiative by exporting 75,000 MT ‘made in UAE’ rebars manufactured by Conares. DP World, UAE Region’s stellar trade and logistics hub has enabled us to continue our endeavours. This export shipment showcases our commitment towards the same causes that DP World, UAE Region endorses. The tireless work and the unending support of the team at DP World, UAE Region and Jafza has made the success of this shipment possible.”
“Conares aligns its model to support the industrial goals of the nation. The export shipment is a step towards supporting this national goal and showcasing its commitment to contribute towards making this a reality. The export of this shipment coincides with Conares’ 10th anniversary of its rebar mill. Over 10 years, Conares has handled 10 million tonnes of steel and achieved AED 10 billion in revenue,” he added.
Iron and steel are the top traded commodities at Jafza that is home to over 997 companies from 88 countries with 14,400 port customers supported. Spread over an area of 3.3 million sqm, the free zone boasts of combined facilities dedicated to steel, metal and construction products including plots, warehouses, offices, etc.
Reinforcing business in the free zone, the ecosystem at Jebel Ali Port is renowned as the region’s polyfunctional port with advanced capabilities. Over the last 10 years, from 2010 to 2019, the port handled a record one billion metric tonnes in steel and construction, handling an average of 4.5 million TEU. Additionally, over 50 million metric tonnes of general cargo were handled during this period. With its ability to handle all types of containers, breakbulk and bulk, the port provides value-added services like assembling, warehousing and transport management and manufacturing and fabrication facilities, making it a preferred destination for businesses, including Conares, to carry out operations efficiently and thrive.
Conares has been in the steel trading business since its inception in 1988 with its state-of-the-art manufacturing facility headquartered in Jafza since 2000. The company was also the highest-grossing company in terms of trade volume in Jafza’s Metal & Steel segment in 2019.
Conares has helped in building megaprojects projects like the Etihad Rail, Abu Dhabi Midfield Terminal, Expo 2020, Dubai Metro, Dubai Opera, Museum of Future, to name a few. The company is among the top steel rebar mills operating round the clock to serve the UAE’s upcoming projects in infrastructure development and industrial sectors. The market value of Conares’ assets exceeds AED 1.5 billion and is expected to cross AED 2 billion per annum in the next few years.