ABOUT US
Forging the Future with Sustainable Alloys
BHUTAN'S INDUSTRIAL JOURNEY
Nestled in the Eastern Himalayas, Bhutan has emerged as one of South Asia’s most sustainable industrial economies. With abundant hydropower and a national commitment to carbon neutrality, Bhutan’s industrial growth has evolved hand in hand with environmental stewardship.
The country’s ferroalloy industry, in particular, has become a pillar of Bhutan’s export economy—contributing significantly to employment, revenue, and regional trade.
Among the pioneers of this transformation stands Druk Wang Alloys Limited (DWAL)—a benchmark for reliability, quality, and sustainability in ferroalloy manufacturing.
OUR JOURNEY
Founded in 2005, Druk Wang Alloys Limited began its operations with a vision to create a world-class ferroalloy enterprise powered entirely by Bhutan’s clean hydropower.
What started as a small operation in Pasakha Industrial Estate has evolved into one of Bhutan’s largest and most respected industrial ventures.
1987–2004 | Policy Foundations and Industrial Vision
Bhutan’s first Industrial Policy (1987) laid the groundwork for mineral-based industries, encouraging private sector participation and foreign investment.
The rapid development of hydropower created a stable, low-carbon energy base, a key advantage for energy-intensive industries such as ferro-silicon. Early studies recognized Bhutan’s potential as a reliable supplier of ferro-silicon to India, Europe, and the US.
2005–2008 | Building Foundations and Powering the Future
During the construction phase, Druk Wang Alloys Limited (DWAL) undertook the development of a state-of-the-art 18 MVA Submerged Arch Furnace integrated with a modern Gas Cleaning Plant, reflecting a decisive commitment to technological upgradation by embedding advanced automation systems and enhanced safety protocols into the plant’s design.
This marked the start of Bhutan’s commercial-scale ferro-silicon industry, aligning national hydropower advantages with industrial manufacturing.
2009–2019 | Expansion and Export Diversification
DWAL expanded operations with advanced safety and quality systems, and began direct exports to India and global markets.
During this period, Bhutan’s ferro-silicon exports grew steadily, contributing significantly to national GDP and foreign-exchange earnings.
2020–2023 | Strengthening Capacity and Integrating Resources
DWAL commissioned its second 18 MVA submerged arch furnace, doubling annual output, enhancing efficiency and diversifying raw-material sourcing.
The company reinforced its reputation for quality and reliability while exploring new markets across Asia, Europe, and North America.
2024–Present | Sustainability and Strategic Alignment
Aligned with Bhutan’s Industrial Development Roadmap 2025, Druk Wang Alloys (DWAL) is advancing its commitment to energy efficiency, sustainable raw material sourcing, and the development of high-purity ferro alloys.
The company continues to invest in research, cleaner production technologies, and workforce development—ensuring that DWAL remains a leader in Bhutan’s green industrial transformation. As part of its strategic growth and diversification efforts, DWAL is now a partner in Green Ferro Alloys Private Limited, a new venture operating two 12.5 MVA submerged arc furnaces dedicated to the production of Silico Manganese. This marks a significant step toward expanding DWAL’s product portfolio and contributing further to the country’s industrial value chain.
OUR
MISSION & VISION
To be a global benchmark in Ferro Alloy manufacturing, driving industrial excellence and sustainable growth through Bhutan’s clean hydropower. We envision a future where DWAL stands as a symbol of innovation, integrity, and environmental stewardship, transforming Bhutan’s natural advantages into a legacy of industrial strength and national pride.
Our mission is to redefine the standards of ferro alloy production through world-class quality, technological innovation, and sustainable practices. We are committed to creating value at every level — empowering our people, enriching communities, and strengthening Bhutan’s industrial foundation. Guided by a dedication to excellence, we strive to build a future where growth, innovation, and environmental responsibility thrive in harmony.
Our Founders
Druk Wang Alloys Limited, a public limited company established in 2005, is spearheaded by a visionary group of promoters who bring decades of entrepreneurial experience and industrial leadership to Bhutan’s manufacturing sector.
Gup Thinley Dorji
With deep roots in community leadership and enterprise development, Gup Thinley Dorji contributes a unique blend of grassroots insight and operational acumen. His dedication to inclusive growth and regional empowerment aligns with the company’s values.
Dasho Dorji Norbu
Bhutan’s first certified civil engineer, Dasho Dorji Norbu, graduated from Lafayette College in the United States. Before venturing into business, he served as the Head of the Public Works Department in the Government of Bhutan, where he played a key role in shaping the country’s early infrastructure development. Later, he founded Bhutan Engineering Company Pvt. Ltd., laying the foundation for his contributions to Bhutan’s industrial growth.
BOARD OF DIRECTORS
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Mrs. Naki Dorji
Chair Person
Managing Director, Nima Construction, Thimphu, Bhutan
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Mr. Chimi Dorji Norbu
Managing Director
Managing Director Druk Wang Alloys, Phuentsholing, Bhutan
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Mr. Samdrup Norbu
Director / Promoter
Managing Director, Bhutan Construction, Thimphu, Bhutan
Mr. Leki Dorji Norbu
Director
Executive Director, Bhutan Engineering Co. (P) Ltd., Thimphu, Bhutan
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Mrs. Pema Yangzom Norbu
Director
Proprietor, Hotel Osel, Thimphu, Bhutan
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Mr. Sonam Tobgay
Director
Executive Director, Nima Construction, Thimphu, Bhutan
Mr. Dawa Penjore
Independent Director (Public Representation)
Yodsel Tours, Thimphu, Bhutan
Mrs. Karma Deki
Independent Director
Bhutan National Bank, Thimphu, Bhutan
Mr. Ugyen Wangchuk
Independent Director
Bhutan Football Federation, Thimphu, Bhutan
Investor Relations
DWAL is a publicly listed company on the Royal Securities Exchange of Bhutan (RSEB) under the ticker DWAL.
With the largest market capitalization among ferroalloy producers in Bhutan, DWAL represents a strong and stable investment opportunity for both domestic and regional investors.
Quick Facts:
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Market Cap: 3.98 Billion
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Share Type: Ordinary public shares
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Trading Platform: RSEB Official Listing – DWAL
DWAL'S long-term financial strategy emphasizes operational excellence, export diversification, and sustainable profitability.
Governance & Regulatory Excellence
DWAL is deeply committed to corporate responsibility, ethical compliance, and safe workplace practices. Over the years, the company has been recognized for its exceptional contributions:
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Best Tax Compliance Award—Awarded by the Ministry of Finance, Royal Government of Bhutan (2014,2015,2024…..)
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Occupational Health and Safety Excellence Award—For maintaining safe and sustainable working conditions across all operations
