Beirut (APD) -International Ductile Pipes Company, a subsidiary of the Saudi-based Fal Holdings Arabia Company, announced its intention to establish a SR 500 million ($133.32 million) ductile iron pipes plant in Jubail industrial city in Saudi Arabia, the pan-Arab daily Asharq al-Awsat reported Saturday.
"The plant will have an initial capacity of 200,000 tons per year and will be built on an area of 155,000 square meters as one of the largest plants of its kind in the Middle East and Europe," said Fahad Al Athel chairman of Fal Holdings Arabia.
"The plant is scheduled to start operations in the first quarter of 2007. Production lines will begin operating in stages," Athel added claiming that the output of the plant "will cover the needs of Saudi Arabia, the Gulf region, the Middle East and parts of Europe."
"Fal Holdings Arabia signed a contract for natural gas supplies with Saudi Aramco. The company signed other deals with international firms for the purchase of the plant's equipment," Athel said.
Established in 1976, Fal Holdings Arabia engages in a wide range of activities in engineering and construction, information technology and telecommunications, healthcare, financial services, leisure and real estate. [TS]
By Shikrallah Nakhoul, APD Staff Writer in Beirut
© APD (Arab Press Digest) 2005
