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Article: New steel complex to open next year.
- Article from:
- Gulf Industry
- Article date:
- September 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A new steel-making company fully owned by Saudi-based Al Tuwairqi Holding Company will start operating next year and help reduce the group's imports of steel billets to zero.
Arab Iron and Steel Company's complex, which includes a billet unit, a direct reduction unit and a melt shop, has an annual capacity of two million tonnes, raising group capacity to 3 million tonnes. The group holds 76 per cent of Al Ittefaq Steel Products Company, one of Saudi Arabia's three largest producers. "This is part of our strategic plan to become a fully-integrated steel producer and will reinforce our position as the kingdom's largest private steel producer," said board member ...