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Article: Korean firm wins steel plant contract in JEC.(STX Heavy Industries Co. in Jizan Economic City )(Brief article)
- Article from:
- Saudi Economic Survey
- Article date:
- September 16, 2009
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The STX Heavy Industries Co. of South Korea has announced that it has won the contract for construction of a steel plant in Jizan Economic City at a cost of SR 750 million.
News reports from South Korea indicated that the President of the Board of STX signed the contract with the Chairman of Saudi Arabian Southern Steel Factory Co. Under the terms of the contract the steel plant would have production capacity of one million tons of billet and 500,000 tons of reinforcing steel bars, annually.
The STX Co. would implement all phases of the project including designing, financing and construction work on a turnkey basis.
The period of implementation ...