12 Oct 2010
(MENAFN) The Vice Chairman of Foulath, Bahrain’s biggest steel firm, said that the company is planning to take over a Saudi rival by next month as it pushes on with an expansion effort, Reuters reported.
Foulath’s acquisition reflects its strategy to control every link in the steel supply chain, from iron ore mines to the output of finished products, all with a view towards lowering its costs of production in a continued down market, the official said.
Foulath’s cost advantage, reflecting the lower cost of energy and transport in the region, was applicable to other GCC-based steel producers, he said.
Foulath already controls 55 percent of the MENA market for steel pellets, a raw material used in steel mills, after starting up an expansion plant in January, he added.
The company plans to build additional pellet plants in Alexandria, Egypt, and in Salalah, Oman, in partnership with local investors, according to the official.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more