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Article: Australia: Boulder Steel and Saudi royals in Gladstone steel mill talks.
- Article from:
- TendersInfo
- Article date:
- September 5, 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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Byline: pinto03
The Australian reported that aspiring steelmaker Boulder Steel is forging a USD 2 billion plan with a member of the Saudi Arabian royal family to build a plant at the port town of Gladstone in Queensland that would more than double Australia's steel exports.
For a company with a market value of about USD 80 million that has been trying to get a steel mill off the ground for more than 15 years the scheme is a grand one.
Boulder which started life as a West Australian gold exploration company 23 years ago wants to finalize a USD 800 million, 2.1 million tonne per year plant at Gladstone by the Q3 of 2010 and start exporting steel ...