FINANCIAL NEWS

Jiangsu to build USD20m pipe plant in Oman

04 Feb 2016

(MENAFN) Chinese Jiangsu Chanbao Steel Tube firm intends to construct a USD20 million manufacturing unit in Oman’s Sohar for making 50,000 tons of special steel pipes annually.

Accordingly, the special pipes will be targeted at numerous arrays of industries that could extremely benefit from it, such as oil and gas, chemical and automobile industry.

Jiangsu Chang bao Steel Tube is a specialized in the production of pipes for various energy Manufacturers, and it’s one of the largest manufacturers in boiler tube and OCTG industry.

“We are delighted to have signed this new lease agreement with Jiangsu, which is already a supplier for a number of Sohar tenants, including METS,” said Sohar Free zone’s CEO.

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