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FINANCIAL NEWS
Four companies to build manufacturing plant
19 Jun 2014
(MENAFN) Four regional and global companies plan to cooperate in building a large plant for manufacturing seamless pipe lines in Ras Alkhair, according to Arab News.
The project’s production is expected to reach 600.000 tons of steel in its first stage, in which seamless pipes, iron, and iron alloy will be made.
The project, being established by companies from Saudi Arabia, Germany, Czech and India, is expected to cost as much as USD1 billion and will be funded by Alinma Investment.
The plant is planned to be completed by 2015 and will provide the country with manufacture industrial and construction equipment.
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