Bahrain Steel Company, a fully owned unit of Foulath Holding Company has announced the launch of projects worth $250 million.
The project includes building a roof to cover the iron ore materials area, establishing a solar energy project, and allocating an industrial land plot to support the company’s operations on a larger scale, aim to achieve environmental and societal sustainability.
Speaking at the launch, Shaikh Khalid highlighted the importance of implementing projects that keep pace with the kingdom’s comprehensive development process and pave the way for shifting to an economy based on high added value activities, taking into account the highest standards of environmental sustainability.
The Deputy Premier indicated that the legislative system and robust infrastructure provided by the government have motivated many mega companies to make the kingdom the home to their qualitative, the primary destination for their businesses, and the centre for their external operations, which benefits the citizens and provide them with promising opportunities, as per the local reports.
He appreciated Bahrain Steel Company’s initiatives and said that this step consolidates the kingdom’s position as a leader in the iron and steel industry in the region and the world, as well as confirm the private sector’s keenness to strengthen its partnership with the public sector by adopting responsible policies and practices aimed at achieving the Kingdom’s goal of reaching “zero neutrality” in carbon emissions by 2060.
Meshary Al Judaimi, Bahrain Steel Board of Directors Chairman, pointed out that Bahrain Steel had adopted qualitative initiatives that have contributed positively to the industrial sector, confirming its commitment to creating a more sustainable future, and entitling it to be a role model, both in the steel industry and the field of sustainability.
He emphasised on the tremendous efforts taken by company, in cooperation with number of ministries, government agencies and major companies to establish the largest solar energy park in the Kingdom as well as the largest rooftop solar project in the world.
“These projects constitute a milestone in the kingdom’s endeavours in the field of renewable energy and contribute to achieving its goal of reaching Net Zero by 2060,” he added.