Font Size

- Aa +

Sun 11 Sep 2011 05:18 PM

Font Size

- Aa +

ArcelorMittal to start $700m Saudi steel mill next year

Jubail-based plant will produce 600,000 metric tons of pipes a year for oil and petchems industry

ArcelorMittal to start $700m Saudi steel mill next year
The $700m plant will produce 600,000 metric tons of pipes a year

The Saudi unit of ArcelorMittal, the world’s largest steelmaker, expects to start producing in the first half of 2012 at its new mill at Jubail in eastern Saudi Arabia, al-Watan reported.

The $700m plant will produce 600,000 metric tons of pipes a year for the oil and petrochemical industry, the Abha- based newspaper reported, citing Mohammed Al Jabr, ArcelorMittal’s managing director in Saudi Arabia.

Al Jabr was formerly the vice president of Saudi Basic Industries Corp’s steel unit, according to the report.

The company plans to invest up to $3bn in Saudi steel projects over the next five years and is conducting studies to build a factory north of Jubail at Ras Al Khair, where the government is forming a mining hub, Al Jabr told the newspaper.

For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.