Al-Tuwairqi

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Founded in 1977 on the brink of Saudi Arabia’s steel manufacturing surge and since proving to be a leading entity as growth has ensued, the story of Riyadh-headquartered Al-Tuwairqi Holding (“ATH”) is one of gritty business acumen, innovative leadership and continuing success.

The brainchild of founder and Chairman Dr. Hilal Hussain Al-Tuwairqi, ATH emerged from early contracting and trading activities to become Saudi Arabia’s largest privately-owned steel manufacturer, and the group’s history in entering partnerships, strategic acquisitions and frontier projects reads like a timeline of the nation’s ascent to the world stage as a steel sector contender.

Efforts to build on its leading role as a Middle Eastern steel house by way of expanding its manufacturing power into prime spots in South Asia and Europe have marked the next chapter in ATH’s story. The group has received all manner of industry recognition as a result, including the Best GCC Industrial Development Company 2011 at the World Finance Awards in London; flagship business unit Al Ittefaq Steel’s receipt of the Century International Platinum Quality ERA 2011 in Geneva; and a host of other accolades for its work in environmental, community and health and safety concerns.

Since day one the group’s mission statement has reigned supreme throughout its diverse suite of subsidiary businesses, investments, joint ventures and goals—strengthening the GCC steel industries and putting the region on the map.

The Al-Tuwairqi Holding vision:

“To become a socially responsible, efficient and professionally managed Global Steel Player by capitalizing on the competitive advantages and natural resources of the GCC and Middle East region and to become an employer of choice for qualified and competent human resources.”

Determination & diversity

Upon acquiring its first steel company in 1990 (Al Ittefaq Steel Products Company or ISPC Dammam), ATH began life with a capacity of just 1,000 tons per month using producing hot rolled steel sections with a simple handrolling mill. Fifteen years have passed, Al Ittefaq Steel has upped its production capacity to 1.250 million tons by implementing new technologies, and it isn’t the only ATH business to achieve such rapid growth. Likewise, since acquiring Thames Steel UK in 2002 (then home to capacity of 570,000 tons per annum for melting) ATH has increased the company’s capacity to 850,000 tons per annum with rolling capacity of 650,000 tons per annum.

The Al-Tuwairqi ranks

Now home to a host of companies, ATH’s fold includes:
DRIC; NASCO (MRM); ISPC; ISPC Makkah; FSPC; TIEPCO; ATTC; THI; Arab Steel Co.; Thames Steel; and TSML.

The product offering resulting from ATH’s businesses now ranges from direct reduced iron (DRIC) to steel products (ISPC Dammam, ISPC Makkah, FSPC, MRM) and electrical products (TIEPCO)—reading like a wish-list for the construction, infrastructure, steel and associated industries globally.

Importantly, each offering is backed by a group-wide commitment to safe, sustainable and wholly-responsible practise; a staunch commitment to “Total Quality” with tailored year-to-year practises for fostering improvements in safe, environmentally sound and optimised processes utilising multidisciplinary cutting edge technology.

Safety & staff: Signed and certified

*ATH’s production facilities are ISO 9001:2000 and CARES U.K. certified.

*ATH continues to sign agreements with the Saudi Human Resources Development Fund (SHRDF) and work towards up-skilling Saudi citizens.

*The group also runs continuous On the Job Training (OJT) for all of its employees.

ATH’s refined capital and operational structure, underpinned by an unfaltering commitment to best practise, now looks set to prove ever more vital as the company continues to forge global partnerships and implement groundbreaking new investment projects in 2012.

Making the news

As ATH continues to serve as a privately-owned success story in the Kingdom’s densely state-owned steel industries, headline-making deals have ensued further afield.

The latest came on September 12, 2011, when ATH announced its joint venture agreement with POSCO, the world’s third-largest steelmaker by market value. The partners will collaborate on Tuwairqi Steel Mills Limited (TSML); the project ATH is establishing at Port Qasim, Karachi. Once complete, TSML will bring modern technology to the region, have a capacity of 1.28 million tonnes and cost US$260 million. More than $225 million has already been invested and POSCO has pledged $15 million in equity for the project. The signing ceremony held in Karachi was attended by Dr. Al-Tuwairqi and Mr. Joon-Yang Chung, POSCO’s Chairman and chief executive who each signed the agreement. Minister of State Saleem H. Mandviwalla also attended, and he described the partnership as one of synergy which will greatly help in augmenting the efforts towards the forward and backward integration of the project.

“This agreement will not only further strengthen the bond among the three companies but also the countries these organizations are representing,” Dr. Al-Tuwairqi said.

“We are hopeful that this is the beginning of a long lasting relationship between ATH and POSCO and it will also help build trust of more foreign investors in the country.”

Dr. Al-Tuwairqi urges for GCC import levy

As President of the Arab Iron & Steel Union, Dr. Al-Tuwairqi’s commitment to his native steel industries was evident on December 13 as he spoke at the Metal Bulletin Iron & Steel conference in Dubai.

He advised the GCC to impose a 20 per cent import levy on rebar; a move to quash environmentally detrimental dumping practises. Describing how such a tax would safeguard the interests of responsible steel houses within the region, his words rang true of ATH’s own commitments to responsible operation.

ATH has captured the admiration of industry, international communities and entered successful partnerships throughout its various businesses. The founding vision of Dr. Al-Tuwairqi as evidenced by the group’s actions to date has proved strong enough to see out market downfalls, succeed as a private entity and enabled ATH to bring its quality products and expertise to a growing range of projects.

Running such a tight ship across so many diverse business disciplines can’t be easy, but wherever ATH emerges it brings with it the highest standards of safe, commercially savvy and innovative operation.