Emirates Steel Alkane (ESA) recently announced that it has signed a five-year, $2 billion contract with Bahrain Steel Company (BSC) to supply high-grade iron ore pellets.
Both companies signed an agreement during the period Integrated industrial partnership for sustainable economic growth An initiative recently held in Bahrain. This new agreement will contribute to strengthening the current cooperation between the two companies, which has grown 16 times since 2009.
BSC supplies Emirates Steel Alkane ensures a reliable supply of high-quality iron ore pellets that foster sustainable growth of the region’s steel industry.
strategic partnership
Saeed Gumran Al Rumaiti, CEO of Emirates Steel Alkan Group, Engineer “We aim to ensure a stable supply chain and strengthen our ability to manufacture high-quality steel products.”
“Through this strategic partnership, we aim to not only foster comprehensive industrial growth, but also ensure a stable supply chain and strengthen our base of steel manufacturing capabilities.” said Saeed Gumran Al Remeiti, Engineer, Group CEO of Arkan.
UAE vision
He added that this initiative is in line with the UAE’s vision to strengthen partnerships and enhance cooperation with regional countries. Furthermore, it supports the goals of the Integrated Industrial Partnership for Sustainable Economic Development, launched in 2022. The partnership therefore aims to achieve integration of the resources, capabilities and experience of the partnership countries.
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Initiatives for economic development
Dilip George, CEO of BSC, said the strategic partnership between BSC and Emirates Steel Arcane reflects the strong shared vision for collaboration and growth between the two companies. The BSC will therefore play an important role in supporting economic development initiatives based on integrated industrial partnerships for sustainable economic growth.
Responding to growing needs
“The five-year agreement underlines our commitment to providing high quality iron ore oxide pellets to meet Emirates Steel Alkane’s evolving needs,” he added.
The signing ceremony was part of a cooperation initiative involving the UAE, Egypt, Jordan and Bahrain, and was an important milestone in boosting economic ties within the region. It also solidifies the strategic partnership between Emirates Steel Alcan and BSC, further strengthening the growth prospects for both companies over the next five years.
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