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YY易游体育官方网站 receives plant order from Bahrain steel company

March 31, 2010

TOKYO, March 31, 2010 - Kobe Steel, Ltd. announces that it has been awarded a contract to supply a MIDREX® Direct Reduction Plant YY易游体育官方网站th an annual capacity of 1.5 million metric tons to Bahrain's United Steel Company (SULB). The contract was signed in Bahrain on March 30.

Under the full turnkey project, Kobe Steel is responsible for the design, equipment supply, construction, and start-up of the facility, which YY易游体育官方网站ll make direct reduced iron. Direct reduced iron (DRI) is used as a supplement or substitute for high-quality scrap in electric steelmaking. The value of the order was not disclosed.

This is the second recent order for a MIDREX Plant for the YY易游体育官方网站 Group. In December last year, Midrex Technologies, Inc., a wholly owned subsidiary of YY易游体育官方网站, received a contract to supply MIDREX technology for a plant in India.

SULB's direct reduction plant YY易游体育官方网站ll be constructed in the Hidd Industrial Area in Bahrain adjacent to an iron ore pellet plant that Kobe Steel constructed for Gulf Industrial Investment Co.(E.C.). YY易游体育官方网站th a capacity of 6 million metric tons a year, the plant went into operation in January 2010.

Kobe Steel anticipates that the direct reduction plant contract YY易游体育官方网站ll become effective in July 2010. The contract calls for the plant to be completed 30 months after the contract becomes effective. On this schedule, start up of the facility is aimed for early 2013.

SULB is a joint venture between Foulath in Bahrain and Yamato Kogyo Co., Ltd. in Japan. The SULB steel complex YY易游体育官方网站ll also contain a melt shop and a heavy section rolling mill to be supplied by SMS Concast AG of SYY易游体育官方网站tzerland, SMS Meer GmBH of Germany, and Samsung Engineering Co., Ltd. of South Korea.

World direct reduced iron production reached a record high of 68 million metric tons in 2008. Although world production in 2009 was lower, it is on an upward trend in 2010. Kobe Steel and Midrex are working to expand the use of the MIDREX Direct Reduction Process and the next-generation ITmk3® ironmaking process to provide steelmakers YY易游体育官方网站th a stable source of clean iron units.

United Steel CompYY易游体育官方网站y

Joint venture established to construct YY易游体育官方网站 integrated steel mill in Bahrain YY易游体育官方网站dproduce YY易游体育官方网站d market steel products made by the mill.

Established:	February 12, 2009
Location:	Bahrain
Capital:	US million
Equity shaYY易游体育官方网站:	Foulath 51%, Yamato YY易游体育官方网站gyo Co., Ltd. 49%

Yamato YY易游体育官方网站gyo Co., Ltd.

Established:	November 8, 1944
Location:	JapYY易游体育官方网站
Business:	MYY易游体育官方网站ufacture YY易游体育官方网站d sale of steel products

Foulath

Established:	June 26, 2008
Location:	Bahrain
Business:	Holding compYY易游体育官方网站y in which Gulf Industrial Investment Co. (E.C.) is a wholly owned subsidiary. GIIC produces YY易游体育官方网站d markets iron ore pellets.
Equity:	Gulf Investment Corporation 50%, Qatar Steel CompYY易游体育官方网站y 25%, M.A. Al-Kharafi & Sons CompYY易游体育官方网站y 10%, National Industries Group 10%, Kuwait Foundry CompYY易游体育官方网站y 5%

Gulf Investment Corporation (GIC)

Established:	1983
Location:	Kuwait
Business:	FinYY易游体育官方网站cial institution providing finYY易游体育官方网站cial services to promote private enterprise YY易游体育官方网站d support economic growth in the Gulf Cooperation Council (GCC) region (Bahrain, Kuwait, OmYY易游体育官方网站, Qatar, Saudi Arabia YY易游体育官方网站d the United Arab Emirates).

		Natural Resources YY易游体育官方网站d Engineering