Mr. Mohammed Al-Jabr, vice president of the Metals Strategic Business Unit of Saudi Basic Industries Corporation (SABIC), has said that the SABIC group is planning to reach a total steel production capacity of 17 million tons by the year 2020.
The capacity increase in question will not necessarily be related to the Hadeed plant located in northeastern Saudi Arabia, but could be by means of new investments in other regions of the country as well as by mergers and acquisitions abroad, said Mr. Al-Jabr.
Mr. Al-Jabr added that SABIC is not very much interested in acquisitions or mergers worldwide, but is looking at possibilities in the Gulf Region or in Arab countries in North Africa.
SABIC is one of the world's leading manufacturers of chemicals, fertilizers, plastics and metals. SABIC is also the owner of the Saudi Arabian steel mill Hadeed.