Foulath Steel to take over Saudi rolling mill

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The National reported that the Kuwaiti and Japanese JV behind Bahrain’s USD 1.2 billion Hidd Steel Mill project is planning to acquire a steel rolling mill in Saudi Arabia.

Bahrain’s biggest steel company will take over a Saudi rival by next month as it pushes on with an expansion effort to become the Middle East’s first fully integrated producer. The acquisition will allow the company to drop plans to build an additional plant in Bahrain and accelerate its timescale of delivering steel products from light to heavy sections by 3 years.

(Sourced from the National)

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