Seamless Tube Finishing Plant

• State-of-the-art finishing plant for seamless tubes located in the UAE.
  Will initially process seamless tubes acquired from third parties.
  
  
• Boulder has acquired land for this operation in the Hamriyah Free Zone in Sharjah.
  
  
• Technical concept and plant layout have been finalised
  in the December Quarter 2007.
  
  
• Land levelling commenced in March 2008 and was completed in June 2008 at the Finishing Plant Project site in the Hamriyah Free Zone, Sharjah, UAE. The work was carried out by UAE contractor Al Sahel General Transport Est.
  
  
• The Final Feasibility Report has been received from Mc Lellan.
  
  
• "Environment Permit" was received from HFZA on 14 September 2008.
  
  
• Geotechnical Investigation of the land was completed and the report
  received during September 2008.
  
  
• Construction of the plant is expected to start in April 2009.
  
  
• Operations in the UAE are tax-free.

Boulder Steel (UAE) Ltd is continuing its efforts to identify a strategic partner with existing major players in the seamless tube industry. Once a strategic partner has been secured, the company aims to proceed towards financial tie-up.