Saudi Aramco signed a memorandum of understanding (MoU) with GE and Italy’s Cividale SpA to build a high-end forging and casting manufacturing facility in Saudi Arabia that will serve the region’s maritime and energy industries. Scheduled to be operational in 2020, the $400 million plant will be located in Ras Al-Khair and create 2,000 jobs. The MoU follows a preliminary partnership between Saudi Aramco and Cividale, a leading European producer in the steel and cast iron sector, to conduct feasibility studies for forging and casting manufacturing services. GE will extend its expertise in developing the manufacturing plant through a joint venture between the three entities.
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