Bahrain Steel Plans to Double Pellet Production Over Next Ten Years
Bahrain Steel - wholly owned company of Foulath Holding, recently unveiled its plans to double its pellet production over the next 10 years. It has two pelletizing plants with total capacity of 12 MnT p.a. and it is the third largest pellet producing plant in the world.
The company commemorated its 30 years of production since its inception in 1989. Last year in 2018, the company has achieved the landmark production and passed the milestone of having produced 100 MnT of pellets since its inception.
The company has been slowly ramping up its capacity in the last few years. From the initial 5.5 MnT output, Bahrain Steel produced 8 MnT of pellets in 2018, gaining a 26% market share in the GCC and an enviable record for quality output. In the current year, it plans to utilize its full installed capacity of 12 MnT.
For a long time, we have not been able to ramp our capacity. We were always averaging our capacity around 5 to 5.5 MnT. Last year, we achieved the highest output at 8 million tonnes. Going forward, we want to achieve 100 % capacity,” Dilip George, group Chief Executive of Bahrain Steel and Foulath Holding said.
Company’s decision to sign a 20-year iron ore supply agreement with Anglo American Marketing Company (AAML), which will ensure smooth and quality supply of raw materials to Bahrain Steel.
Out of the total production, Bahrain Steel supplies 20% to its subsidiary company Sulb. The rest is supplied to steelmakers throughout the world but the key focus is the GCC market which has an estimated demand of 22 MnT.
The company, which claims to have a 26% market share of the GCC market, is looking to capturing new markets in the GCC and North Africa.
Bahrain Steel expansion plan in upcoming months
Bahrain Steel under its expansion plan is looking to target North Africa market as there are new plants coming up the region. The company is currently in negotiations with a new plant coming up in Algeria. In Egypt, company has already supplied to Ezz Dekheila Steel Company Alexandria (EZDK).
Bahrain Steel is looking to expand its stockyard capacity to support its increased production.
source: SteelMint
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