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Alam Steel signs JV with Macsteel

Dubai-based Alam Steel Ltd has signed a Dhs100m ($27m) joint venture with South Africa's Macsteel SA to build the Middle East's first service centre for processing high grade steel plates in Jebel Ali, reported Khaleej Times. as part of a Dhs1bn five-year expansion programme across the Gulf region. The 50:50 joint venture facility is to be operational within a year. Alam Steel also operates a 500,000 tonne steel debar processing plant in in Dubai Investment Park.