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HomePR This WeekSteel played a significant role in the progress of global development

Steel played a significant role in the progress of global development

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We live in a world that is at the edge of remarkable progress. Innovation and human inventiveness create extraordinary strides in global development. And steel is key in enabling this transformation. From smart cars to smartphones and airplanes to air-conditioners, steel has become an irreplaceable component that shapes our life every day. Established in 2008 in the Kingdom of Bahrain, Foulath Holding is an investment company dedicated to the sustainable development and growth of the steel industry in the GCC and the broader Middle East and North Africa (MENA) region.

Foulath operates one of the largest fully integrated single-site steel complexes in the world, covering 1.7 million square meters, complete with port and jetty facilities. It oversees more than US$2.4 billion of assets through its subsidiaries – Bahrain Steel and SULB. Producing annually over 12 million tons of high-quality iron ore pellets and more than 1 million tons of structural steel, Foulath constitutes a uniquely integrated steel producer that positions Bahrain as a key player in the region and the world ’s steel sector.

It is a significant contributor to Bahrain’s economy and to the creation of numerous direct and indirect jobs. Foulath’s subsidiaries are responsible for almost 5% of the Kingdom’s GDP, and about 25% of its non-oil exports. Bahraini nationals constitute around 51% of Foulath’s employees.

As a user of iron ore, we never forget our responsibility towards the very source of our business – the planet. Foulath’s commitment to conduct its operations in an environmentally conscious and socially inclusive fashion influences its strategy for sustainable growth. Principles of zero harm, resource efficiency, circular economy, and care for the community and employees are deeply embedded in the Group’s operating philosophy as it focuses on transitioning to lower carbon-intensive operations and promoting sustainable steelmaking. We join our Indian employees, their families and every Indian national to celebrate India’s 76th Independence Day on 15th August 2023.

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