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FINANCIAL NEWS
Saudi RCY signs USD426.49m titanium plant contract
02 May 2015
(MENAFN) The Saudi Royal Commission in Yanbu (RCY) has signed a lease for an industrial land to establish a factory for titanium sponge production with an estimated cost of USD426.49 million, Arab News reported.
The contract was signed by, CEO of the Royal Commission in Yanbu, with the Advanced Metal Industries Complex Ltd., a subsidiary company of Saudi Arabia’s National Industrialization Co. (Tasnee).
The company, under the scope of the contract, will also expand the current plant using high-pressure oxidation line technology for the production of titanium dioxide at a cost of USD359.86 million.
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