Saudi Arabian Industrial Investments Company (Dussur) has announced that SeAH Gulf Special Steel Industries, its joint venture with South Korea’s SeAH Changwon Integrated Special Steel, has broken ground for the construction of the first stainless seamless pipe and tube production plant in the MENA region at King Salman Energy Park (SPARK), which is located in Eastern Province, Saudi Arabia.
The plant which will be built with a total investment of SAR 900 million ($240 million) will have an annual production capacity of 20,000 mt. Commercial production at the plant is expected to start in 2025.
Dussur pointed out that this project highlights the parties’ shared mission to advance the Saudi industrial sector and serve the kingdom's oil, gas, energy, and water industry through strategic investments and partnerships with local and global entities.