BILDCO Reinforcing Steel Services, a subsidiary of Abu Dhabi National Building Materials Company (BILDCO), has signed a joint management and operation agreement with Hong Kong-based CIEC Group to operate and upgrade its reinforcing steel plant in Musaffah.

Under the five-year agreement, CIEC will rehabilitate and manage the plant using advanced robotic production lines and modern equipment, increasing the plant’s production capacity to 700 tonnes of rebars per day, BILDCO said in a statement to the Abu Dhabi Securities Exchange.

BILDCO Reinforcing Steel Services offers an extensive range of reinforcing steel products and services in the UAE construction field, according to the parent company’s website.

BILDCO said revenue fell to 46 million UAE dirhams ($12.53 million) in 2025 from AED 52.4 million in 2024. It turned to a net loss of AED 24.5 million against a net profit of AED 12 million in 2024.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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