Dubai’s ETA Ascon Star Group is set to launch a $80 million steel plant in Sharjah through a new subsidiary, Star Steel International.

Under the initiative Star Steel International is building state-of-the-art steel rolling mills – one to produce steel rebar and the other to produce steel structural sections – at the Hamriyah Free Zone.  The plant will have an annual capacity of  360,000 tonnes of rebar and 240,000 tonnes of structural steel, in addition to a 120,000-tonne steel bar profiling (cut and bend) facility that has been recently commissioned. With an estimated turnover of $420 million, Star Steel International plans to start commercial production by early next year, suitably timed with an anticipated revival in the steel market.
Star Steel International executive director M K Abdul Razick also said that the company is considering setting up its own steel melt shops in Abu Dhabi by the second quarter of next year.
ETA Ascon Star Group has installed the rolling mills with equipment purchased from Italian suppliers.