May 4 2005
On 30 April 2005, SABIC Metals signed a contract with a consortium including the Korean POSCO Engineering & Construction Co. Ltd and Daewoo International for the design, manufacture, supply and installation of a flat steel painting facility within the company’s Hadeed complex in Jubail Industrial City. This will have an annual production capacity of 120K MT to complement the existing flat steel production lines and the ongoing expansion projects. This new production line is expected to go live in November, 2006.
SABIC Vice President, Metals and President, Hadeed, Mr. Mohammed Al-Jabr said, “This project is being implemented as part of SABIC’s expansion plans to strengthen its competitive capabilities in the global marketplace and enhance its leading position worldwide.
“It is worth while saying that the speed of this new production facility is 120 meters of painted flat steel products per minute. It will use the latest state-of-the-art technologies for polyester, fluorocarbon and plysystol on galvanized steel and aluminum and zinc coated steel”.
Managing Director, Daewoo International, Tai Tong Lee said, “We have had strong commercial ties with SABIC over the years in exporting SABIC Hadeed hot and cold rolled flat steel and galvanized products to the amount of US$ 50 million annually. These products have been transported to various countries worldwide through the Daewoo International Office in Riyadh. The construction of this new facility will undoubtedly boost SABIC Hadeed’s economic growth”.
Additionally the facility is equipped with hot and decorative transparent packing facilities. These products are primarily used in household ceilings and appliances.
In 2004, SABIC Hadeed concluded contracts for the construction of a new plant for the production of 500 MT annual capacity of long steel products including; rebar and wire coils. Also, the company entered into other agreements to implement expansion of the hot rolled facility at the flat steel plant to double the production capacity from 1 million to 2 million tons annually. SABIC Hadeed expects to complete its expansion projects by the end of 2006.
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