SABIC to build two new steel plants

Thursday, 13 June 2013 14:52:17 (GMT+3)   -   Istanbul
SteelOrbis News

Saudi Arabia-based Saudi Basic Industries Corporation (SABIC) has announced that it will spend $4.25 billion to build two steel plants for its manufacturing affiliate Hadeed on Saudi Arabia's Gulf coast.

One of the plants will be located in Jubail and will have a production capacity of 1.5 million mt per year, while the other plant planned to be built in Rabigh will be able to produce 1 million mt of steel per year.
SABIC stated that it has reached an agreement with Saudi Arabia's Ministry of Petroleum and Mineral Resources for the supply of fuel to power the plants in question. The company has not revealed a start date for the construction.

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