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SAUDI BASIC INDUSTRIES Corporation (SABIC) announced that its manufacturing affiliate, Saudi Iron and Steel Company (HADEED), 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.
Abdulaziz Suleiman Al-Humaid, SABIC Vice President, Metals, 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 tons of steel billets. It will increase the total production capacity of HADEED to six million tons, 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 galvanizing lines including the new one that is to be built. HADEED will be able to provide high quality specialized wire rolls to the plants that now import the product as well as meet the needs of special projects, Al-Humaid said.