Metals

HADEED signs steel plant contract

Hadeed

SAUDI BASIC INDUSTRIES Corporation (SABIC) announced that its manufacturing affiliate, Saudi Iron and Steel Company (HADEED), signed an agreement with the Italian company, Danieli, for the construction of a steel plant and a production line for galvanizing long products in Jubail, Saudi Arabia.

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Aluminium industry buoyed by US$10.8 billion deal

SAUDI ARABIAN MINING Company (Maaden) has signed a US$10.8 billion contract with Alcoa, a world leader in aluminium, for the development of a fully integrated world-class aluminium industry in the kingdom.

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One million tonnes of steel

SAUDI STEEL FIRMS have accumulated around one million tonnes of steel products in their stocks due to an export ban and poor demand. The industry has urged the government to reconsider the decision to ban exports and has valued the surplus steel at US$533mn. Contractors have warned that removing the ban will result in spiralling costs.

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Emal commits to smelter

EMIRATES ALUMINIUM (EMAL), a joint venture between Abu Dhabi's Mubadala Development Company and Dubai Aluminium (Dubal), has so far committed US$3.6 billion in investment by awarding 326 contracts for its smelter.

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New steelmaking plant

EMIRATES STEEL INDUSTRIES (ESI) has commenced the commissioning of its new steelmaking plant in Mussafah. "Construction of the country's first integrated steelmaking operation continues to advance with the commissioning of a world-scale plant that will produce steel billets, the raw material for ESI's new state-of-the-art rolling mills," the company said in a statement. The latest plant includes an electric arc furnace and a caster to mould the billets.

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