Laying the Industrial Foundation
Building the Gulf’s Steel Legacy
Bahrain Steel was established in 1984 under the name Arab Iron & Steel, a pioneering initiative led by the Government of Bahrain in collaboration with regional industrial leaders through the Gulf Industrial Investment Company (GIIC). The vision was bold—to strengthen the Gulf's industrial base by replacing imported steel products with high-quality local production, while fostering regional expertise and technology transfer.
To realize this ambition, Bahrain Steel partnered with Japan’s Kobe Steel, acquiring world-class equipment and technical know-how. By 1989, full-scale production had commenced, and the company adopted the GIIC name. To ensure efficient raw material supply, a dedicated port terminal and lighterage operation were developed soon after.
Historical Timeline
Our journey has been shaped by milestones and achievements that reflect our focus on innovation and progress.
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Arab Iron & Steel Company was founded in Bahrain to establish a pelletizing plant dedicated to producing direct reduction (DR) grade iron ore pellets, serving direct reduction plants across the region.
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Gulf Industrial Investment Company (GIIC) was established to take over Arab Iron and Steel Company (AISCO), which owned and operated a pelletizing plant with an annual capacity of 3 MT.
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GIIC expanded its pelletizing operations, boosting production capacity from 3.0 to 3.3 MT per year, further strengthening its position as a key regional supplier of DR-grade pellets.
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Increased capacity to 4mt by adding grinding mill.
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GIIC became the first company in the iron ore industry to utilize lighterage, improving logistics efficiency and cost-effectiveness.
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Gulf Investment Corporation (GIC) and CVRD (Companhia Vale do Rio Doce) entered a 50-50 partnership to take over GIIC.
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Construction of the Dolphin Jetty enabled GIIC to berth transfer vessels, strengthening its export infrastructure.
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CVRD exited its shareholding, with GIC assuming 100% ownership of GIIC.
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50% of GIIC shares were divested to strategic GCC investors, while GIC retained 50% ownership.
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Plant capacity was increased to 5 MT per year, meeting growing regional demand.
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Foulath Holding Company was established, and GIIC became a wholly owned subsidiary of Foulath, aligning operations under a unified regional steel investment platform.
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A second pelletizing plant was inaugurated, adding 6 MT of annual capacity.
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GIIC rebranded to Bahrain Steel, reflecting its evolution into a global supplier of DR-grade pellets.
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Pellet Plant 2 underwent a capacity upgrade to 7 million tonnes per year, further strengthening Bahrain Steel’s production capability bringing total capacity to 12mt.
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Cumulative production surpassed 100 MT of DR-grade pellets.
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Bahrain Steel signed a long-term contract with Anglo American for pellet feed supply from the Minas-Rio mine in Brazil.
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Bahrain Steel invested in a stockyard expansion, reclaiming approximately 368,000 m² of land from the sea to increase storage capacity.
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Optimization to 13 mt; production crosses 150 million tons of iron ore pellets since its formation.
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Bahrain Steel signed an agreement to finance a $450 million sustainability-linked loan, supporting its commitment to carbon reduction and sustainable growth.
From Regional Vision to Global Impact
In 2010, a second pelletizing plant—also designed and built by Kobe Steel—was commissioned, doubling production capacity to over 12 million tons annually. With this expansion came a heightened focus on environmental responsibility and operational safety, aligning with the highest international standards.
In 2013, reflecting its national identity and global ambition, the company was rebranded as Bahrain Steel. That same year, Bahrain’s steel ecosystem was further strengthened with the establishment of SULB, a sister company focused on downstream steel products.
Today, Bahrain Steel stands as a cornerstone of the Kingdom’s industrial success and a key player in the global steel supply chain.
Our story doesn’t end here. Find out what guides our journey ahead.
Our story doesn’t end here. Find out what guides our journey ahead.
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Established as a Bahraini Limited Liability Company with a paid-up capital of BD 500,000, First Real Estate embarked on its journey to establish a foothold in the local real estate market, laying the foundation for future growth and expansion.
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Restructured to a Bahraini Joint Stock Closed Company with a paid-up capital of BD 30 million, First Real Estate significantly bolstered its financial base, enabling it to scale operations and pursue larger-scale development projects to meet growing market demands.
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Increasing its paid-up capital to BD 31.8 million marked a pivotal moment in First Real Estate's financial evolution, reinforcing its commitment to sustainable growth and enhancing its capacity to undertake ambitious real estate ventures.
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Transitioning to a Public Holding Company was a strategic move aimed at providing First Real Estate with increased financial resources and market credibility, facilitating its ambitious plans for further growth and development in the real estate sector.
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Launching the first commercial property project marked First Real Estate's diversification strategy, expanding its portfolio beyond residential offerings to capture new market segments and maximize revenue streams.
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Expanding into the warehouse market and completing the first major warehouse project highlighted First Real Estate's adaptability and foresight in catering to diverse market demands, solidifying its position as a versatile player in the real estate industry.
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Achieving record occupancy rates across all property types underscored First Real Estate's operational prowess and tenant-centric approach, reflecting its commitment to delivering high-quality real estate operations and superior customer service.
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Introducing a new strategic plan focusing on regional expansion demonstrated First Real Estate's forward-thinking approach and ambition to capitalize on emerging opportunities in neighboring markets, positioning itself as a regional real estate leader.
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Completing a significant acquisition of a commercial property portfolio was a strategic milestone for First Real Estate, enhancing its asset base and reinforcing its market position while unlocking new avenues for revenue growth and value creation.
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Implementing advanced property management systems was instrumental in improving operational efficiency and tenant satisfaction, underscoring First Real Estate's commitment to adopting cutting-edge technology and best practices in property management.
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Achieving significant operational improvements with revenues increasing to BD 4.5 million highlighted First Real Estate's relentless pursuit of excellence and profitability, driven by strategic initiatives aimed at enhancing asset value and optimizing financial performance.