In Utilities, GIC is co-developing five Utilities projects in the GCC with a total asset base of approximately $9 billion, making it one of the two biggest GCC investors in power and water projects. Within the Metals sector, GIC flagship is the holding company Foulath, which GIC established in Bahrain through Foulath, GIC owns the only pelletizing plant in the Gulf (GIIC) and a cold rolled stainless steel mill plant (USCO). Upon completion of the current projects under construction, a DRI plant with a melt shop and rolling mills to produce sections and beams, Foulath will be the region's first fully integrated steel plant, from iron ore to finished products, with a total cost of over $ 2 billion.