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posted on 07/11/2006
Jeddah
Saudi Arabia’s Atoun Steel Industry (ASi)
has awarded the contract to supply equipment
for its SR1 billion ($266.6 million) steel
plant, being built at the Yanbu Industrial
City II, to Austria’s Voest-Alpine Company.
The plant, whose civil works begin soon,
will go into commercial production in the
second half of 2008, said an Arab News
report.
The SR800 million equipment supply agreement
was signed between the companies at the
Jeddah Hilton yesterday.
ASi’s constituent
committee chairman Ahmad Ali Hazza said the
plant will cover an area of 530,000 sq m and
produce one million tonnes of steel annually
once it starts its commercial operations.
The plant will also produce reinforcement
bars for the construction industry.
Based in Jeddah, the ASi has been
established by 24 investors and is projected
to cover local market needs. It will also
explore export possibilities in future.
About 600 to 700 workers will be employed in
the plant. Plant workers will comprise local
and international experts, the report said. |
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