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SULB inaugurates $20mn wharf at Salman Industrial City in Hidd

Economic News

SULB inaugurates $20mn wharf at Salman Industrial City in Hidd

 

SULB, a major steel producer serving international markets, inaugurated the newly constructed Wharf. The new private port facility, located at Salman Industrial City in Hidd, is set to significantly enhance the company’s supply chain and deliver strong environmental and economic benefits for the Kingdom of Bahrain and its customers.

 

High level dignitaries, SULB’s Board and management, customers, partners and the media were on hand to commemorate the milestone opening where SULB was presented the Port/Private Jetty Operator License issued by the Ministry of Transportation and Telecommunications’ Ports and Maritime Affairs. Those present included: His Excellency Bader Hood Al Mahmood, Assistant Undersecretary for Ports Affairs.

 

Developed at a cost of approximately US$20 million, the facility is 230 m long and can accommodate ships up to 180m LOA, 40,000 DWT. Now in operation, it will allow for a strong reduction in SULB’s usage and dependence on Bahrain’s public roads and port network.

 

Shipping directly by sea to customers, nearly one million tons of SULB’s product will be taken off Bahrain’s roads each year. This is equivalent to 40,000 trailers annually, which will not only significantly reduce traffic in the Kingdom and wear and tear on roads, but is also expected to result in a substantial reduction in its post-production greenhouse-gas emissions nearing 18,000 tons per year.

 

Enhanced efficiency and a range of resulting economic benefits will also be realised from the company’s streamlined delivery capabilities. With its own shipping facility, SULB has now effectively secured its supply chain bolstering business continuity for the company and its global customers. Savings and the securing of its strong forex contributions to Bahrain’s economy will also be supported by the new facility through reductions in the company’s cost of exporting and a greater return of earned dollars. The new facility will help SULB save approximately 30% on its annual Freight on Board (FOB) charges while also helping customers reduce their procurement fees by up to 20% as a result of SULB’s onsite loading and shipment capabilities.

 

SULB currently exports 99% of its products annually to customers in more than 25 countries located across the broader MENA region, South East Asia, Americas and Europe. Today, nearly 50% of all structural steel sections used in the GCC’s infrastructure development are manufactured by the company in Bahrain.

 

 

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