Sabic affilate Hadeed signs agreement with Danieli for construction of new steel plant
- Saudi Arabia: Monday, November 16 - 2009 at 09:59
- PRESS RELEASE
Saudi Basic Industries Corporation (Sabic) announced today that its manufacturing affiliate, Saudi Iron and Steel Company (Hadeed), signed an agreement with the Italian company, Danieli, on November 14 for the construction of a steel plant and a production line for galvanizing long products in Jubail, Saudi Arabia.
Al-Humaid said that the new plant will make Hadeed self-sufficient in feedstock, intermediate and finished products. The steel billets produced at Hadeed will meet the requirements of its galvanizing lines including the new one that is to be built. Hadeed will be able to provide high quality specialized wire rolls to the plants that now import the product as well as meet the needs of special projects, Al-Humaid said.
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