Morocco - Maghreb Steel - Launch of Maghreb Steel project during January 2010

06/09/2010

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Launch of Maghreb Steel project during January 2010

Last Update: 01/02/2010 08:55:46
ArabSteel - The new project for the hot production of steel in Morocco owned by Maghreb Steel is due to launch in January 2010, according to company sources. The capacity of the new facility will reach 1.5 mt/y of HRB and company sources have told «Arab Steel» that the project is going to be completed in three phases.
The first phase is for producing HRC with a capacity of 1 mt/y and investing MAD1.3 bn in the process. The second phase is due to be launched within this year to produce steel sheets with an investment of MAD650 m. The third phase is due to launch in January 2011 and is directed to steelmaking with a capacity of 1.2 mt/y and an investment of MAD 1.2 bn.
The overall cost of the new project is MAD3.7 bn, and it will create 1100 jobs. It will also lead, when all its phases are complete, to reducing the imports volume, developing exports and decreasing production cost, add to that meeting local market needs of those products which were previously imported from the world market.

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