South Korea-based SeAH Changwon Integrated Special Steel Corporation has announced that it has established SeAH Gulf Special Steel Industries (SGSI), a joint venture with Saudi Arabia-based oil company Aramco.
The joint venture will accelerate SEAH Group’s expansion in the Middle East, SteelOrbis understands.
SGSI will invest $230 million to build a seamless stainless steel pipe production plant with an annual production capacity of 17,000 mt in King Salman Energy Park (SPARK) in Saudi Arabia. The plant will be built in the fourth quarter of this year and is scheduled to commence production in the first half of 2025.