ArcelorMittal to start production at new Saudi steel pipe plant in H1 2012

The world's largest steel producer ArcelorMittal has announced that it will launch production operations at its Saudi Arabian steel pipe plant in Jubail in the first half of 2012.
 
The new plant, which is expected to cost $700 million, will produce 600,000 mt of steel pipes for the oil and petrochemical industry each year.
 
ArcelorMittal also said that it will invest $3 billion in steel projects in Saudi Arabia in the next five years, while it is conducting studies to build a new plant at Ras Al-Khair north of Jubail, where the government is building a mining hub