VOL. XLI

No. 30

27-July-1998

BAHRAIN

Indian Group's Sponge Iron Plant In Bahrain Delayed

Plans for the construction of a $290mn sponge iron plant in Bahrain by a joint venturecomprising Bahrain Ipsat Ltd. (80%), a subsidiary of the Indian steelmaking group Ipsat,and Japan's Mitsui (20%) have been delayed after a proposed $210mn loan facility for theproject was rejected by local banks (MEES, 13 October 1997). According to astatement by Ipsat's Finance Manager on 23 July, the future of the...