South Korea's Doosan Heavy Industries & Construction Company has secured a 1 trillion-won ($834 million) contract from Saudi-based Tuwaiq Casting & Forging for the construction of a 60,000-tonne-a-year plant in Ras Al Khair region of the kingdom.
Tuwaiq Casting & Forging is a three-party joint venture between Doosan Heavy, Saudi Arabian Industrial Investments Company (Dussur) and Saudi Aramco Development Company, a wholly-owned subsidiary of global energy giant Saudi Aramco.
Tuwaiq Casting & Forging is set to be located within the King Salman International Maritime Industries Complex in Ras Al Khair near Jubail in the Eastern Province of Saudi Arabia.
Work will begin soon on the 400,000 sq m casting and forging facility and is due for completion in the first quarter of 2025, it said.
Equipped with integrated production lines, including steel making, casting and forging and processing, the plant is expected to be Saudi Arabia’s largest casting and forging facility.
Major product lines from the facility are expected to include casting and forging materials for pumps and valves used at petrochemical plants and for equipment used in shipbuilding and offshore plants in Saudi Arabia. In the long term, the partners intend to expand the product mix of the facility to cover power generation plants and wind power plants.-TradeArabia News Service
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