India’s Essar Group Partners With Bahrain Steel for Green Steel Project in Saudi Arabia

India’s Essar Group Partners With Bahrain Steel for Green Steel Project in Saudi Arabia

Indian conglomerate Essar Group on Thursday announced partnering with Foulath subsidiary, Bahrain Steel, a leading producer and global supplier of high-grade iron-ore pellets, for supply of iron ore pellets to the Indian group’s upcoming steel project in Saudi Arabia, the Green Steel Arabia (GSA).

The partnership envisages Bahrain Steel to deliver 4 million tonnes of DR-grade pellets per annum (mtpa) to Essar Group.

Bahrain Steel: GCC’s top pellet supplier

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.

The two companies signed the Letter of Intent (LOI) for the supply agreement on Wednesday in Jubail, Saudi Arabia.

Commenting on the partnership, Dilip George, Group CEO of Foulath Holding, said the company is proud to collaborate with the Essar Group to support its pioneering project for setting up the first green steel project in Saudi Arabia, where there is a growing focus on sustainable development.

“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,” he added.

Naushad Ansari, Country Head for Essar Group in KSA,