Officials at the signing ceremony.
Bahrain Steel wins $2bn Emirates Arkan supply deal
01 February 2024
Emirates Steel Arkan (ESA), one of the largest publicly traded steel and building materials manufacturers in the region, has signed a five-year iron ore pellets supply contract with Bahrain Steel Company, a global leader in high-grade iron ore pellets (IOP).
The contract, valued at approximately $2 billion, was formalised at the Industrial Partnership for Sustainable Economic Growth initiative, held recently in Bahrain.
The deal solidifies a strategic alliance between Emirates Steel Arkan and Bahrain Steel, further enhancing both companies’ growth prospects over the next five years.
ESA’s partnership with BSC extends with this new contract, aiming for even greater heights in sourcing IOP. Under this agreement, Bahrain Steel will supply high-grade iron ore oxide pellets annually to Emirates Steel Arkan.
Emirates Steel Arkan Group CEO Engineer Saeed Ghumran Al Remeithi said: “Through this strategic partnership, we aim to not only foster integrated industrial growth, ensure a stable supply chain and enhance the foundations of our steel manufacturing capabilities, but also strengthen economic ties within the GCC.”
On the big win, Dilip George, Group CEO at Bahrain Steel, said: “This historic collaboration between Bahrain Steel and Emirates Steel Arkan signifies a new era of cooperation and growth for our organisations.”
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