Emirates Steel Arkan (ESA) has signed a five-year iron ore pellet supply contract with Bahrain Steel Company (BSC).
The contract, valued at approximately $2 billion, was formalised at the Industrial Partnership for Sustainable Economic Growth initiative, held recently in Bahrain.
Rooted in 16x growth since 2009, Emirates Steel Arkan’s partnership with BSC extends with this new contract, aiming for even greater heights in sourcing IOP.
Emirates Steel and Bahrain Steel
Under this agreement, Bahrain Steel will supply high-grade iron ore oxide pellets annually to Emirates Steel Arkan.
This partnership is poised to significantly impact the iron and steel industry within the region, fostering sustainable economic growth and exemplifying the potential of cross-border collaborations.
Eng. Saeed Ghumran Al Remeithi, Group CEO at Emirates Steel Arkan, 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.
“This initiative is in line with the UAE’s vision of bolstering partnerships and enhancing multilateral cooperation, as well as the goals of the Integrated Industrial Partnership for Sustainable Economic Development, which was launched in 2022 to achieve integration in resources, capabilities, and experiences owned by the partnership countries.”
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.
“We are honoured to play a crucial role in supporting the economic development initiatives outlined in the Industrial Partnership for Sustainable Economic Growth.
“The five-year contract underscores our commitment to delivering high-quality iron ore oxide pellets to meet the evolving needs of Emirates Steel Arkan.”