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  • 11-02-19

    Saudi Arabia to establish CRA clad steel pipes plant

    (MENAFN) Saudi Industrial Development Fund (SIDF) and Tawteen (Localization) Finance Program penned a funding deal for a corrosion resistance alloy (CRA) clad steel pipes plant.

    Under the agreement, the steel pipe plant will be constructed with USD77.86 million of investments in Jubail City.

    This comes under the Tawteen Program of which SIDF launched to strengthen domestic content expenditure as well as supporting Vision 2030.

    SIDF was also confirmed to have inked several deals with Saudi Aramco's Kingdom Total Value Add IKTVA along with a number of other entities with an aim to accelerate the GDP and see economic diversification.

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