To Build a Production Plant in Saudi Arabia
SeAH Changwon Integrated Special Steel Corp. announced on Aug. 8 that it has completed the establishment of SeAH Gulf Special Steel Industries (SGSI), a joint venture with Saudi Arabia’s Aramco.
The company has been pushing for the establishment of a seamless stainless steel pipe and tube plant in Saudi Arabia in partnership with the Saudi Arabian Industrial Investments Co. (Dussur), whose major shareholder is Aramco.
SGSI will invest US$230 million to build a plant in King Salman Energy Park (SPARK), a new city being developed as an international hub for the energy industry in the eastern part of Saudi Arabia. The plant will produce 17,000 tons of high value-added seamless stainless steel pipes and tubes annually. Ground will be broken in the fourth quarter of this year, with commercial production scheduled for the first half of 2025.
Meanwhile, SeAH Group said a total of four products, including stainless steel precision pipe products from CTC, a subsidiary of SeAH Changwon Integrated Special Steel, and stainless welding steel pipes from Inox Tech, a subsidiary of SeAH Group, obtained a new vendor certificate from Aramco. SeAH Group is targeting the Middle East market as well as large-scale national projects in Saudi Arabia.