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HADEED Signs Agreement with Danieli for Steel Plant Construction
Nov. 18, 2009 Saudi Basic Industries Corp. (SABIC) manufacturing affiliate Saudi Iron and Steel Co. (HADEED) recently signed an agreement with the Italian company Danieli for the construction of a steel plant and a production line for galvanizing long products in Jubail, Saudi Arabia.
The new plant, which is scheduled to start-up in the second half of 2012, will have an annual production capacity of 1 million tonnes of steel billets. The total production capacity of HADEED will increase to 6 million tonnes with the new plant; long products will account for 4 million tonnes.
Abdulaziz Suleiman Al-Humaid, SABIC Vice President, Metals, and HADEED Chairman, signed the contract on behalf of SABIC.
Al-Humaid said that the new plant will make HADEED self-sufficient in feedstock, intermediate, and finished products. The steel billets produced there will meet the requirements of its galvanizing lines including the new one to be built.
HADEED will be able to provide high-quality specialized wire rolls to plants that now import the product as well as meet the needs of special projects, Al-Humaid said.