31 Mar 2010
(MENAFN) Japan’s Kobe Steel and Midrex of the US said that the heva won a $1.2 billion deal for the engineering, procurement and construction (EPC) of a steel plant in Bahrain, Gulf Daily News reported.
The plant is being set up by the United Steel Company (SULB), a joint venture between Bahrain-based Gulf United Steel Holding Company (Foulath) and Japan’s Yamato Kogyo Company.
While Foulath is the Middle East’s leading steel investment vehicle and holding company, Yamato is one of the world’s leading global beams and structural sections producers.
SULB chairman and managing director Khalid Al Qadeeri said with the awarding of the contracts, the consortiums will build a 1.8 million tons per annum direct reduction iron (DRI) plant and a 1m tons per year melt shop and heavy section rolling mill.
Kobe Steel and Midrex will undertake the construction of the DRI plant while SMS Meer, SMS Concast and Samsung will jointly develop the other facilities, he said.
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