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Saudi, Chinese firms ink deal on steel pipe plant in kingdom

Saudi-based Abdel Hadi Abdullah Al Qahtani & Sons has entered into an agreement with China's Panyu Chu Kong Steel Pipe Co to set up a $106m joint venture in the kingdom, Saudi Gazette has reported. The 50-50 JV company will manufacture and sell LSAW and ERW steel pipes. Under the agreement, the JV will set up two mills in two phases including one LSAW plant and one ERW plant with an annual design capacity of 300,000 tonnes and 200,000 tonnes, respectively.