FINANCIAL NEWS

Vale Oman awards contract to ABB

02 Sep 2010

(MENAFN) Swiss Engineering firm ABB said that it has won a three-year contract from Vale Oman, a subsidiary of Brazil’s Vale, Reuters reported.

ABB will provide maintenance services for Vale’s $1.3 billion iron pellet plant in Sohar, the Swiss company said in a statement, without disclosing the value of the deal.

The plant is due to start up by the end of this year, with an annual output of 9 million tons of iron pellets, ABB said.

ABB said it would also manage the commissioning phase of the project, which includes a distribution centre with a handling capacity of 40 million tons.

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