Saudi Iron and Steel Co. (HADEED) signed an agreement with Italy’s Danieli for the construction of a steel plant and a production line for galvanizing long products in Jubail, Saudi Arabia. The new facility, which is scheduled to start-up in the second half of 2012, will have an annual production capacity of 1 million metric tons of steel billets. The plant’s total production capacity will increase to 6 million metric tons, with long products accounting for 4 million metric tons. HADEED will provide high-quality specialized wire rolls to plants that now import the product.
According to HADEED, the new plant will make the company 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. The facility will also help HADEED meet the needs of special projects.