Bahrain’s United Steel Company (Sulb) has completed the acquisition of a 450,000 tonne-a-year rolling mill located at Jubail in Saudi Arabia for an undisclosed amount.
The United Gulf Steel (UGS) plant manufactures a range of products that includes equal angles, flat, round and square bars. Billets for the plant will be transported by barge from Sulb’s $1.2bn Hidd Steel Mill project currently under construction in Bahrain (MEED 15:10:10).
The new facility will allow Sulb to produce everything from light to heavy steel sections, making it the only steel producer in the region to do this.
Sulb is a joint venture between Kuwait’s United Steel Holding Company (Foulath) and Japan’s Yamato Kogyo Company.
Kuwait’s Gulf Investment Corporation owns 50 per cent of Foulath, 25 per cent is owned by Qatar Steel, 10 per cent each by the Kharafi Group of Kuwait and the National Industries Group of Kuwait, and 5 per cent by the Kuwait Foundry Company.