Maaden, The Saudi Arabian Mining Company, signed financing contract on two joint ventures with Alcoa Inc. worth US$2.1 billion with the Public Investment Fund (PIF).
A report by Deloitte said that in terms of production and investment opportunity, the Middle East is set to become a key player in the metals and mining industry.
SAUDI FAL and Emerson launched a new 9,000sqm manufacturing facility in Jubail to meet rising local and regional demand.
The Kurdistan Regional Government (KRG) has licensed an Iraqi firm to build a smelter and steel plant worth nearly US$1.1 billion.
Jotun Powder Coatings is currently eyeing Bahrain as its key market in 2011. The company has a 70 per cent market share in the GCC region excluding Saudi Arabia, where the Jotun group operates another manufacturing unit based in Dammam.