The facility, an expansion of renowned Conares Metal Supply, would complement and add value to the existing manufacturing operations of Conares in Jafza, which currently span nearly 1.5 million square feet. The company also confirmed plans to invest further into its operations in the free zone.

"The new investment is in line with our confidence and positive outlook on Dubai's long-term prospects. It is also a significant step for Conares in its strategic business growth plan to leverage our strength in the regional market further by offering an enhanced product range to our customers," said Bharat Bhatia, CEO and managing director of Conares.

"Production at the new plant is all set and this will raise our annual cumulative installed capacity across all our plants to 700,000 MT per year. The new plant will have an annual installed capacity of 500,000 MT," Mathew Ambat, director, Conares Metal Supply, said.