Kuwait - UNISTEEL - Al-Khaldi: There's a limit to rebar prices in the coming 5 years

19/05/2013

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Al-Khaldi: There's a limit to rebar prices in the coming 5 years

Last Update: 06/12/2010 08:25:14
Mr. Awwad Al-Khaldi, Chairman & Managing Director of the United Steel Industrial Company (UNISTEEL) of Kuwait said that the rebar prices won't exceed 240 Kuwaiti Dinar for the coming 5 years which form the duration of the development plan in Kuwait. He said that this will help avoid rises in the cost of projects and getting the entrepreneurs involved in problems relating to price rises with project owners, be they public or private sector.
Mr. Al-Khaldi confirmed during an interview with Assiasah newspaper that Kuwaiti mills can cover the needs of local market even at the peak of demand and in the outline of carrying out the development plan, demanding at the same time to involve local companies and institutions along with global businesses that shall come under the national umbrella.
He added that Kuwait consumes 800,000t of rebar per annum, and with carrying out the projects of the comprehensive development plan it is expected to reach 1.1Mt/y, confirming at the same time that UNISTEEL mills produce 1.2Mt/y.
Source: Argaam.com

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Kuwait - Al-Khaldi: There's a limit to rebar prices in the coming 5 years

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