Dhofar Steel, part of a well-diversified Omani corporate group, has announced plans to invest in the establishment of a steel rolling mill in Sohar Industrial Estate with raw material sourced from neighbouring Iran. Group Chairman Salim al Mashekhi said the multi-million rial investment will see an existing billet manufacturing plant at Sohar upgraded and expanded into a major rolling mill with its output of rebars targeted primarily at regional markets. Plans drawn up by Dhofar Steel envisage a rebar manufacturing capacity of 10,000-15,000 metric tonnes per month, slated for commissioning and launch within the next "six to eight months", said Al Mashekhi. The plant's capacity could be potentially scaled up to 20,000-25,000 metric tonnes with the support of the company's strategic partners. A 25,000 sq metre plot adjoining the existing facility has already been taken on lease by the company to accommodate the proposed expansion, he stated. According to Al Mashekhi, Oman imports around one million metric tonnes of rebars annually -- volumes that will be partially offset once the new rolling mill comes on stream during the course of this year. (Oman Observer)