14 October 2009
MUSCAT -- Vale announced that it has signed a new 10- year contract with Saudi Basic Industries Corporation (Sabic) to supply direct reduction pellets to its plant in Saudi Arabia.
Under the renewed long-term contract, Vale will supply approximately 3.3 million tonnes of direct reduction pellets.
The contract was signed by Abdulaziz Sulaiman Al Humaid, Sabic, vice-president of Metals and Hadeed, chairman of board along with. José Carlos Martins, Vale's executive director of Ferrous Minerals.
This contract is the product of Vale and Sabic desire to further strengthen their relationship.
It also highlights Vale's unique capability as a long-term reliable supplier of high quality iron ore and pellets, given its large-scale operations and excellence.
Vale is the world's second largest diversified mining company in terms of market capitalisation. With a presence in more than 30 countries, it is the world's largest producer of iron ore and pellets, key raw materials for the steel industry, and one of the largest producers of nickel, which is used to produce stainless steel, batteries, special alloys, chemicals and other products.
Vale set up its Middle East office in Muscat in December 2007 with an aim of gaining a foothold in this market.
The company recently broke ground on a new industrial complex in Sohar, which will comprise of a pelletising plant, bulk terminal and distribution centre with a capacity of 40 million metric tonnes.
MUSCAT -- Vale announced that it has signed a new 10- year contract with Saudi Basic Industries Corporation (Sabic) to supply direct reduction pellets to its plant in Saudi Arabia.
Under the renewed long-term contract, Vale will supply approximately 3.3 million tonnes of direct reduction pellets.
The contract was signed by Abdulaziz Sulaiman Al Humaid, Sabic, vice-president of Metals and Hadeed, chairman of board along with. José Carlos Martins, Vale's executive director of Ferrous Minerals.
This contract is the product of Vale and Sabic desire to further strengthen their relationship.
It also highlights Vale's unique capability as a long-term reliable supplier of high quality iron ore and pellets, given its large-scale operations and excellence.
Vale is the world's second largest diversified mining company in terms of market capitalisation. With a presence in more than 30 countries, it is the world's largest producer of iron ore and pellets, key raw materials for the steel industry, and one of the largest producers of nickel, which is used to produce stainless steel, batteries, special alloys, chemicals and other products.
Vale set up its Middle East office in Muscat in December 2007 with an aim of gaining a foothold in this market.
The company recently broke ground on a new industrial complex in Sohar, which will comprise of a pelletising plant, bulk terminal and distribution centre with a capacity of 40 million metric tonnes.
© Times of Oman 2009
