Spain-based seamless stainless steel pipe producer Tubacex has announced that it has signed a land lease agreement for a 50,000 square meters plot with Khalifa Economic Zones Abu Dhabi for the construction of a new pipe finishing and threading plant in the United Arab Emirates.
The new plant worth $100 million, which is to be the first of its kind in the Middle East, is expected to be operational by the end of 2024 and will employ 150 people.
The plant is a part of the contract between Tubacex and UAE-based energy company Abu Dhabi National Oil Company signed in 2022.
