Japanese steel producer Yamamoto Steel (a subsidiary of Yamamoto Kogyo), in partnership with a Persian Gulf-based consortium Foulth, which includes steel and chemical maker Industries Qatar and Kuwait-based Gulf Investment Corporation, is working on a project for the construction of a steel mill worth $1.2 billion in Bahrain.
Currently, the companies are in talks with lenders including HSBC and Arab-Banking Corporation to help finance this project.
According to reports, the mill will be engaged in the production of three different types of steel products. Due to the rising demand for steel construction materials in Bahrain and in the Gulf region, it may be speculated that the new mill will produce long products required in construction.