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CPC, Arabian Roots in steel deal

Construction Products Holding Company (CPC) and Arabian Roots Co. have recently formed a joint venture to produce pre-engineered steel structure buildings in Syria, Egypt and the UAE, according to news reports. Roots Steel will have three factories, one in Damascus, Cairo and Abu Dhabi at a total investment of $80m. The factories are expected to produce 300,000 tons per year. Target dates of production are November 2008 for Damascus, February 2009 for Cairo, and March 2009 for Abu Dhabi.