Industry

NoozzVIEW; Bahrain's pellets link with Japan

At a time when so much business news is tinged with gloom, even in the oil-rich economies of the Gulf, the emergence of a genuinely progressive manufacturing deal that embraces a number of the Gulf States and links eventual output to a boost in trade with Asia has raised morale. Under terms of the deal, the GCC is to see its thriving Bahrain-based subsidiary 'Foulath' link up with Japan's JFEthe third largest steelmaker in the worldto construct a US$700 million steel pellets plant in Oman. The new plant is to be built in the Salalah free trade zone in the lush southern region of Oman and will have a total annual production of 7 million tonnes once it begins operations in 2011.

Armacell Zamil opens new plant in Saudi

Armacell Zamil Middle East Company launched its new manufacturing facility in Dammam, Saudi Arabia. The company is the result of a joint venture between Zamil Industrial, a leading manufacturing and fabrication group, and Armacell International Holding, a world leader in the manufacture of flexible technical insulation products including Engineered Foams that bear its widely recognised leading brand, Armaflex. The new, state-of-the-art factory will manufacture technologically advanced rubber insulation products in the Middle East and North Africa region.

Bullish outlook for Gulf aluminium output

A new study predicts that aluminium production from GCC member-states is expected to edge up by 58 per cent over the next two years reaching 3.5 tonnes per annum by 2010, compared to a projected 2.215 million tonnes in 2008. Aggregate aluminium production in the Gulf is set to lift to 9 million tonnes per year by 2020, equivalent to almost 13 per cent of combined global output totalling 70 million tonnes.

Industrial park being set up in Al Ain

An industrial park is being developed in Al Ain, on 15-square kilometres, where at least 40 medium to large size industrial units will be setup to manufacture construction materials. "Once completed, the park will have an integrated complex of building materials factories and associated support infrastructure. We will have a 'one-stop shop' for construction-related materials and equipment," said Dr Jeremy Rowson, Arkan's Chief Operating Officer, said. The project is being built by Arkan Building Materials Company, a subsidiary of Government-owned General Holding Corporation (GHC). This project, which started last June with the construction of a new cement factory, will open new avenues of industrial activity in Abu Dhabi, said Dr Jeremy Rowson.

GIC & JFE in US$700m Oman steel plant JV

Gulf Investment Corp., or GIC, said its Foulath unit will set up a steel pellets joint venture in Oman with a total investment of US$700 million in partnership with Japan's JFE Steel Corp. GIC is owned by the governments of the six Gulf Cooperation Council states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. Foulath Oman Co. will have an annual capacity of 7 million metric tonnes of steel pellets, Kuna reports, citing a GIC statement. Foulath will own 60 per cent of Foulath Oman while JFE will own the remaining 40 per cent, the statement said.