Metals

Sohar Aluminium stake bought for US$400mn

The Abu Dhabi National Energy Company (TAQA), has signed an agreement to buy a 40 per cent stake in Sohar Aluminium Company (SAC) from the Abu Dhabi Water and Electricity Authority (ADWEA) for US$400mn. SAC produces 360,000 tonnes of aluminium per annum and also owns and operates a 1,000 MW combined cycle captive power plant. SAC is a joint venture between the Oman Oil Company, ADWEA and Rio Tinto Alcan.

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30 per cent rise in melt shop capacity for Qatar Steel

30 per cent rise in melt shop capacity for Qatar Steel

An agreement between Qatar Steel and engineering and plant-building firm, Siemens VAI, will see Qatar Steel's melt shop capacity go up by about 30 per cent following an ‘upgrade project’. The deal covers the supply and installation of core equipment required for the upgrade and the project will also take care of the emissions through a sophisticated ‘off-gas treatment system’.

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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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