Bahrain Steel Company, a fully owned unit of Foulath Holding Company, an industrial group with major steel investments across the kingdom, has announced the launch of projects worth $250 million. 

 

The projects, including building a roof to cover the iron ore materials area, establishing a solar energy project, and allocating an industrial land plot to support the company’s operations on a larger scale, aim to achieve environmental and societal sustainability.

 

The launch was held in the presence of Shaikh Khalid bin Abdulla Al Khalifa, the Deputy Prime Minister, and other senior officials of Foulath Holding Company and Bahrain Steel.

 

Speaking at the launch, Shaikh Khalid underlined the importance of implementing projects that keep keep pace with the kingdom's comprehensive development process, led by His Majesty King Hamad bin Isa Al Khalifa, and supported by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, as they pave the way for shifting to an economy based on high added value activities, taking into account the highest standards of environmental sustainability.

 

The Deputy Premier indicated that the legislative system and robust infrastructure provided by the government have motivated many mega companies to make the kingdom the home to their qualitative, the primary destination for their businesses, and the centre for their external operations, which benefits the citizens and provide them with promising opportunities, reorted BNA.

 

Lauding Bahrain Steel Company's initiatives, the Deputy Premier said they reflected positively on the environment and the national economy.

 

They also consolidate the kingdom's position as a leader in the iron and steel industry in the region and the world, as well as confirm the private sector’s keenness to strengthen its partnership with the public sector by adopting responsible policies and practices aimed at achieving the Kingdom’s goal of reaching "zero neutrality" in carbon emissions by 2060, he stated.

 

Shaikh Khalid commended the Bahrain Steel Company management for their fruitful cooperation in implementing its ambitious plans that are in line with the objectives of the Bahrain Industrial Sector Strategy (2022-2026) aimed at enhancing the industrial sector’s contribution to the kingdom's gross domestic product (GDP), as well as increasing exports of national origin, and creating promising job opportunities for the citizens in the industrial sector.

 

In his address, Meshary Al Judaimi, Bahrain Steel Board of Directors Chairman, said the presence of the Deputy Prime Minister at the launch reflected the government's support and cooperation for the company in various fields, which enhances the kingdom's reputations and maintains its long-standing status as an attractive country for investors, as well as regional and global competencies.

 

Al Judaimi pointed out that Bahrain Steel had adopted qualitative initiatives that have contributed positively to the industrial sector, confirming its commitment to creating a more sustainable future, and entitling it to be a role model, both in the steel industry and the field of sustainability.

 

He took pride in the tremendous efforts exerted by company, in cooperation with number of ministries, government agencies and major companies to establish the largest solar energy park in the Kingdom as well as the largest rooftop solar project in the world.

 

These projects constitute a milestone in the kingdom’s endeavours in the field of renewable energy, and contribute to achieving its goal of reaching Net Zero by 2060, he added.