Bahrain Steel partners with Essar Group for Green Steel Initiative

21 Aug 2023 CW Team

Distinguished as the sole pellet producer within the Gulf Cooperation Council (GCC), Bahrain Steel holds a preeminent position as the primary provider of top-notch DR grade pellets to integrated steel producers across the region.

The Letter of Intent (LOI) signing ceremony took place on August 16, 2023, in Jubail, Saudi Arabia. Dilip George, Foulath Holding's Group CEO, expressed, "The LOI between Bahrain Steel and Essar for the annual supply of four million tonnes of DR grade pellets underpins our commitment to addressing the growing demand for DR pellets in the GCC's steel industry. We take pride in partnering with Essar Group to support their groundbreaking endeavor to establish Saudi Arabia's inaugural green steel project, aligning with the escalating emphasis on sustainable development in the region."

Naushad Ansari, Essar Group's Country Head in KSA, revealed that Essar plans to invest approximately $4.5 billion in the establishment of an integrated steel plant in Ras Al Khair, Saudi Arabia.

Pending the finalisation and signing of definitive contracts, this LOI secures 50 per cent of the raw material supply of iron ore pellets for the Saudi Steel Plant. Ansari noted, "If our plans unfold as envisioned, we anticipate commencing commercial production by the year 2027."

The Essar project marks a significant milestone as the region's inaugural Green Steel initiative, designed to establish a global standard for CO2 reduction. Encompassing a direct reduced iron (DRI) capacity of 5.0 million tonnes per annum (mtpa), the project comprises two modules, each capable of producing 2.50 mtpa, in addition to a hot strip capacity of 4.0 mtpa. The venture also encompasses 1.0 million tonnes of cold rolling capacity along with galvanising and tin plate lines.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Bahrain Steel, a subsidiary of Foulath based in Bahrain, has joined forces with Essar Group's KSA Green Steel Project to collaborate on the supply of iron ore pellets to the Green Steel Arabia (GSA) initiative. This strategic alliance will see Bahrain Steel providing an annual supply of four million tonnes of DR-grade pellets to Essar Group, as stated in an official communication.Distinguished as the sole pellet producer within the Gulf Cooperation Council (GCC), Bahrain Steel holds a preeminent position as the primary provider of top-notch DR grade pellets to integrated steel producers across the region.The Letter of Intent (LOI) signing ceremony took place on August 16, 2023, in Jubail, Saudi Arabia. Dilip George, Foulath Holding's Group CEO, expressed, The LOI between Bahrain Steel and Essar for the annual supply of four million tonnes of DR grade pellets underpins our commitment to addressing the growing demand for DR pellets in the GCC's steel industry. We take pride in partnering with Essar Group to support their groundbreaking endeavor to establish Saudi Arabia's inaugural green steel project, aligning with the escalating emphasis on sustainable development in the region.Naushad Ansari, Essar Group's Country Head in KSA, revealed that Essar plans to invest approximately $4.5 billion in the establishment of an integrated steel plant in Ras Al Khair, Saudi Arabia.Pending the finalisation and signing of definitive contracts, this LOI secures 50 per cent of the raw material supply of iron ore pellets for the Saudi Steel Plant. Ansari noted, If our plans unfold as envisioned, we anticipate commencing commercial production by the year 2027.The Essar project marks a significant milestone as the region's inaugural Green Steel initiative, designed to establish a global standard for CO2 reduction. Encompassing a direct reduced iron (DRI) capacity of 5.0 million tonnes per annum (mtpa), the project comprises two modules, each capable of producing 2.50 mtpa, in addition to a hot strip capacity of 4.0 mtpa. The venture also encompasses 1.0 million tonnes of cold rolling capacity along with galvanising and tin plate lines.

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

Technology

27 Jun 2026

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Real Estate

27 Jun 2026

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..