The Gulf Industrial Investment (GIIC) and the United Stainless Steel Company (USCO) have commissioned their Pelletiser 2 in Bahrain.
It means GIIC now has 12Mt/y of pelletising capacity making it the third largest in the world and the only pelletising company in the Arab world.
The company’s output in 2010 is forecast at 8Mt, 55% of which will head to GCC countries while the rest goes to global markets.
USCO is also the first Arab and Gulf company to produce stainless steel CRC with a 100kt/y capacity and $300M worth of investments.
The groups also celebrated the establishment of United Steel Company (SOLB) which will have two DRI modules with 1.5mt/y capacity, two melt shops up to 1.3Mt/y capacity and two heavy to medium section rolling mills at a capacity of 1.2Mt/y.
The overall cost of these investments is $1.2bn in a JV between Foulath Holding Co (51% of shares) and Yamato Kogio of Japan (49%).
Foulath Holding is made up of Gulf Investment Co, Qatar Steel, Al-Kharafi Group, Kuwaiti National Industrial Group, and Kuwait Foundry.