Abu Dhabi, United Arab Emirates – Emirates Steel Alkane (ESA), the region’s largest listed steel and building materials manufacturer, signs a five-year iron ore pellet supply agreement with Bahrain Steel Company, a global leader in high-grade iron ore pellets (IOP). (BSC). The deal, worth approximately $2 billion, was formally signed at the recent Industrial Partnership Initiative for Sustainable Economic Growth in Bahrain.
Building on 16x growth since 2009, ESA and BSC’s partnership is extended with this new agreement and aims for even greater heights in IOP procurement. Under the agreement, Bahrain Steel will supply Emirates Steel Alkane with high-grade iron ore oxide pellets on an annual basis. This partnership will have a significant impact on the steel industry in the region, fostering sustainable economic growth and demonstrating the potential of cross-border cooperation.
Saeed Gumran Al Remeiti, Group CEO of Emirates Steel Alkan Engineering, said: “Through this strategic partnership, we will foster integrated industrial growth and ensure a stable supply chain. “We aim not only to strengthen our base of steel manufacturing capabilities, but also to strengthen our economic ties.” This initiative is in line with the UAE’s vision of strengthening partnerships and multilateral cooperation, and the “Integrated Industry for Sustainable Economic Development” initiative launched in 2022 to achieve the integration of resources, capabilities and experience. partnership” goals. by partnership countries. ”
Dilip George, Group CEO of Bahrain Steel, said: “The historic partnership between Bahrain Steel and Emirates Steel Alkan marks a new era of collaboration and growth for our organizations. We are honored to play an important role in this partnership.” The five-year agreement will support the economic development initiatives outlined in the Industrial Partnership for Sustainable Economic Growth. It underscores our commitment to delivering.”
The signing ceremony was part of a cooperation initiative comprising the United Arab Emirates, Egypt, Jordan and Bahrain, and was an important milestone in fostering economic ties within the region. It also solidifies the strategic partnership between Emirates Steel Alcan and Bahrain Steel, further strengthening the growth prospects for both companies over the next five years.
About Emirates Steel Alkane (ESA)
Emirates Steel Alkan (Group) is a public limited company (ADX: EMSTEEL) and the UAE’s largest steel and building materials manufacturer. The Group utilizes cutting-edge technology to supply high-quality finished products to both the domestic market and over 70 international markets, creating a one-stop shop for the manufacturing and construction sectors.
Emirates Steel Alcan is committed to supporting the UAE’s industrial strategy, Operation 300 Billion, by providing market-leading products to support local industry, create job opportunities for UAE nationals, and strengthen sustainable practices. We are committed to contributing to the The Group is also one of the world’s leading manufacturers of carbon-free steel, recognized for its world-class safety performance.
The group’s steel and building materials are used in some of the UAE’s most iconic construction projects, including Burj Khalifa, Emirates Palace, Etihad Tower and Yas Island.
Emirates Steel Alcan is majority-owned by ADQ, one of the region’s largest holding companies with an extensive portfolio of leading companies across key sectors of Abu Dhabi’s diversified economy.
For more information please visit our website: www.emiratessteelarkan.com
About Bahrain Steel
Bahrain Steel, a wholly owned subsidiary of Foulath Holding, was founded in 1984 and is a leading producer and global supplier of high-grade iron ore pellets. With an annual production capacity of 13 million tonnes of high-grade iron ore pellets, Bahrain Steel produces high-quality direct reduction (DRI) pellets for steelmaking. The raw materials arrive by ship at the company’s port terminal, and three-quarters of the finished products are exported from there. Bahrain Steel has an uncompromising commitment to environmental management and workplace safety in line with international standard practices..
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