HADEED, Danieli to construct steel plant in Jubail

Saudi Iron and Steel Company (HADEED), a manufacturing affiliate of Saudi Basic Industries Corp. (SABIC), has inked an agreement with the Italian company Danieli late last year for the construction of a steel plant and a production line for galvanising long products in Jubail, Saudi Arabia. Abdulaziz Suleiman Al-Humaid, SABIC VP, Meta l s and HADEED chairman, signed the contract on behalf of SABIC. The new plant, which is scheduled to start-up in the second half of 2012, will have an annual production capacity of one million tonnes of steel billets. HADEED's total production capacity is anticipated to increase to six million tonnes, of which long products will account for four million. Al-Humaid said that the new plant will make HADEED self-sufficient in feedstock, intermediate and finished products. The steel billets produced at HADEED will meet the requirements of its galvanising lines including the new one that is to be built. HADEED will be able to provide high-quality specialised wire rolls to the plants that now import the product, as well as meet the needs of special projects, Al-Humaid added.Adidas Adilette Slides