- Bahrain Steel BSCC E.C.
Bahrain Steel BSCC E.C.
|Borrower||Bahrain Steel (BS)|
|Financing Type||Private Sector & Trade Finance|
|Instrument||Private Sector Debt|
|OPEC Fund Contribution (US$m)||15.00|
This project is strategically located at the center of a sizeable and rapidly growing steel industry in the GCC states that requires pellets as its primary feedstock. The financing will cater for the expansion of an iron ore pelletizing plant in Bahrain, where the government is seeking to diversify the economy away from the oil sector and encourage foreign investor inflows and private-sector initiatives. Efforts at economic reform are additionally being driven largely by the urgent need to address the high rate of unemployment, the country’s main economic and social policy issue. This project should contribute towards this objective.