A Bahrain-based firm plans to build four iron plants across the region in an attempt to become the main supplier of raw materials to the growing steel industry.
Foulath’s proposed plants in Egypt, Bahrain and Oman would source iron ore from mines in Brazil and refine it into more than 30 million tonnes of iron pellets suitable for direct reduction, said Anurag Bisaria, the director of the company’s metal manufacturing projects.
The investments would position Foulath as a dominant player in the global iron pellet trade, Mr Bisaria told a steel conference in Abu Dhabi. “We are to become a leading source of direct reduction melt pellets in the world,” he said.
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