Last Update: 12/10/2004 01:26:18
The United Steel Industrial Company (UNISTEEL) in Kuwait has achieved a new production figure of 320 thousand tons of reinforcing steel during the first nine months of this year. The company expects this production to come up to 420 thousand tons by the end of this year, Mr. Awad Al-Khaledi, Chairman of the company told Arab Steel magazine in an interview to be published in November 2004 issue. The 2004's production figure is the highest level achieved by the company since it started with its production several years ago. The 2003's total production of the company was 356 thousand tons. The company is ambitious by developing its performance to achieve the company's production capacity amounting to 500 thousand tons per year. The company also plans to make expansion and increase production in order to meet the growing demand in the Kuwaiti market of reinforcing steel which is expected to reach 550 thousand tons in 2004. The increasing demand in the company's domestic market has forced it to abstain from exporting some quantities of reinforcing steel used to be exported during the past years, as it had exported 150 thousand tons to Saudi Arabia in 2003. Due to the increasing costs of the production inputs, in particular the increased price of billets, the company plans to set up a plant to produce this material. Currently its plant is supplied with its requirements of this material by the Iranian partner (Escotech) from Khozestan iron and steel mill in addition to importing this material from the world market, Turkey's market in particular. The availability of lots of scrap in the Kuwaiti market is an encouraging factor to set up a plant for producing billets in Kuwait.
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United Steel Industrial Company
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