Bahrain Steel Signs LOI for Iron Ore Pellet Supply to Essar Group’s KSA Green Steel Project

Bahrain Steel Signs LOI for Iron Ore Pellet Supply to Essar Group’s KSA Green Steel Project

Foulath Subsidiary, Bahrain Steel, a leading producer, and global supplier of high-grade iron-ore pellets, has partnered with multinational conglomerate Essar Group in the supply of iron ore pellets to the Green Steel Arabia (GSA) project. The Letter of Intent (LOI) signing ceremony was held on Wednesday, 16th August 2023, in Jubail, KSA.

Through this partnership, Bahrain Steel will deliver 4 million tonnes of DR-grade pellets per annum (mtpa) to Essar Group. Bahrain Steel is the only GCC-owned pellet producer and leading supplier of high-quality DR grade pellets to all integrated steel producers in the region.

Commenting on the partnership, Mr. Dilip George, Group CEO of Foulath Holding, said: “Bahrain Steel’s LOI with Essar for the supply of 4 million tonnes of DR grade pellets annually is a testament to our commitment to meet the growing demand for DR pellets by the steel industry in the GCC. We are proud to collaborate with Essar Group to support their pioneering project for setting up the first green steel project in Saudi Arabia, where there is a growing focus on sustainable development.”

On his end, Mr. Naushad Ansari, Country Head for Essar Group in KSA, commented: “Essar is looking at investing about USD 4.5 billion in